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Pepsi, Xanadu Sign $100M Naming-Rights Deal

EAST RUTHERFORD, NJ-Pending state agency approval, the Pepsi logo will cover much of a 287-foot-high Ferris wheel.

By Eric Peterson | Updated on February 22, 2008

EAST RUTHERFORD, NJ-The developers of the under-construction, $2-billion Meadowlands Xanadu retail/entertainment complex here recently revealed that they would build a 287-foot-high Ferris wheel–the world’s tallest–at the site. Now, the attraction will apparently also be the world’s largest soft drink advertisement.

Meadowlands Development and Pepsi-Cola yesterday revealed that they had signed a naming-rights agreement, under which the “Pepsi Globe” logo will cover much of the wheel’s exterior surface. As part of the 10-year deal, Pepsi will also implement a series of promotional activities and tie-ins, including nationwide distribution of 450 million soda cans featuring the wheel with the Pepsi logo.

The deal still requires the approval of the New Jersey Sports & Exposition Authority – Xanadu is rising, slated for a November opening, on land that is leased from the state agency. That lease agreement calls for Njsea approval on any and all signage agreements related to Xanadu.

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