Pepsi to replace Coke as NBA's official sponsor

Pepsi CEO Indra Nooyi is expected to make the announcement later Monday.

Coke was the NBA's exclusive food and beverage partner for 28 years.

Pepsi (PEP)CEO Indra Nooyi is expected to officially unveil the partnership with the NBA later Monday.

With the latest partnership, Pepsi will have sponsorship deals with all of the major U.S. sports leagues, including the National Football League, Major League Baseball and the National Hockey League.

Coke (COKE) said it decided not to renew its contract with the league for the upcoming season. The company said it will continue to promote Coke products through existing deals with NBA players, including LeBron James.

Separately, Coke said it would become the exclusive sponsor of Major League Soccer in the Untied States.

CNNMoney (New York) April 13, 2015: 12:06 PM ET

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