09/10/2015 6:12 PM IST | Updated 15/07/2016 8:25 AM IST

IPL Chief Rajeev Shukla Downplays Pepsi's Threat Of Pulling Out

FILE - In this July 9, 2015, file photo, Pepsi bottles are on display at a supermarket in Haverhill, Mass. Pepsico reports quarterly financial results on Tuesday, Oct. 6, 2015. (AP Photo/Elise Amendola, File)

KANPUR -- Indian Premier League (IPL) chairman Rajeev Shukla on Friday downplayed the threat of PepsiCo mulling to pull out of the controversy-hit T20 league, saying cordial talks with the beverage giants are currently underway.

"We are in constant consultation with Pepsi officials. Talks are going on in a very cordial relationship. They have been longstanding partners. We are addressing their concerns and they, our concerns," said Shukla.

"We will work it out and whatever solution we will find, we will let you know. We keep negotiating with our sponsors, so this is not a new thing," he added.

PepsiCo had earlier notified the Board of Control for Cricket in India (BCCI), expressing its intention to withdraw from the IPL as title sponsor because of the controversy surrounding the spot-fixing case.

Contact HuffPost India