The Miami Herald reports that that Florida International University, a public university in Miami, has signed a contract with Pepsi:
Florida International University has reached an agreement with the Pepsi Bottling Group that will make its signature soft drink the university’s official beverage.
As the university’s official beverage partner, Pepsi will also sponsor FIU’s athletic program, said Paula Hopkins, regional sales director at Pepsi.
That includes Pepsi signage at all FIU athletic facilities, exclusive beverage marketing rights for all university athletic programs and cross-promotional opportunities on www.fiusports.com.
This means that only Pepsi products can be sold at Florida International University.
Pepsi is not replacing say, independent vendors; it’s actually replacing coke, which previously held the FIU contract. The new five-year agreement, renewable for up to nine years, is described as being a multimillion-dollar deal.
Pepsi’s agreement with Kansas State University required the company to donate at least $50,000 to the school every year for 10 years, including a $20,000 worth of complimentary products.
Closer to FIU, in 2005 the University of Florida signed a 10-year contract with Pepsi that experts predicted could yield the school about $27 million. A year later the company gave $1.1 million to the school to help combat obesity.