Pepsi will be UW Athletics’ new official drink after the Board of Regents approved the new contract with the beverage giant Thursday.
Regent policy requires private organization grants exceeding one million dollars to be presented to the Board for formal approval, which the Pepsi contract received.
UW’s previous contract with the Dr. Pepper Snapple Group expires on June 30, 2018, creating an opening for the new partnership which will begin in July 2018. There were three major companies in the running to enter into a contract as the official beverage of the Athletic Department, Senior Associate Athletic Director Jason King said. These include the Dr. Pepper Snapple Group, Coca Cola Corporation and Pepsi-Cola.
Although the contract with the Dr. Pepper Snapple Group was not renewed, King said that UW Athletics had been pleased with Dr. Pepper and that they had a good relationship.
Over their five year contract, the Dr. Pepper Snapple Group paid UW Athletics a total of one million dollars. According to the Board of Regents’ Business and Finance Committee written summary, Pepsi-Cola will pay a total of $700,000 in annual fees over the entire contract term, as well as $250,000 in sponsorship support.
However, the contract’s exact amount has not yet been disclosed, King said.