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. Last Updated: 07/27/2016

Baseball Signs Pepsi

NEW YORK -- Major league baseball has signed Pepsico Inc. to a five-year marketing deal in hopes that the second-biggest soft drink company can help it connect with younger sports fans.

The deal, announced Wednesday, makes Pepsi the official soft drink of major league baseball even though rival Coca-Cola Co. has individual deals giving it exclusive rights to serve its drinks in most major league baseball parks.

Terms of the deal were not disclosed, but it has been reported that Pepsi is expected to spend in excess of $50 million on promoting its connection with baseball, including advertising on national baseball game telecasts.