Pepsi will be the choice of a new generation of Firebirds at the University of the District of Columbia for the next decade, as the institution recently signed an exclusive pouring rights agreement with the soft drink giant.
From the Washington Business Journal:
Under the deal, PepsiCo will be the exclusive supplier of carbonated and noncarbonated, nonalcoholic beverages at UDC. In return, it will create an “integrated beverage program providing quality products and state-of-the-art equipment,” pay the university $91,000 per year for 10 years, and provide $60,000 “initial support funds,” according to a resolution filed with the D.C. Council this week.
In August, MuckRock analyzed a sample of more than 38 pouring rights contracts at colleges and universities nationwide and showed that contracts at HBCUs can typically range from $50,000 for short-term agreements, to more than $1 million for longer partnerships supporting special events, athletic contests, and student scholarships.