Pepsi, Baseball Strike Up a Deal

PepsiCo Inc. said it has agreed to promote major league baseball in its ads and products in a marketing alliance that the soft drink maker hopes will help break rival Coca-Cola Co.’s stranglehold on the sport. The five-year agreement gives Pepsi the right to sponsor the All-Star Game, use team logos in promotions and even offer the first pitch of a World Series game as a reward in a contest. In return, it will pay the league an undisclosed amount and advertise during nationally televised games. Sources told Associated Press that the deal is worth more than $50 million. Coca-Cola said it had the chance to top Pepsi’s offer and decided against it, preferring local deals with individual teams.