The Super Bowl’s halftime show will go on without Pepsi.
The soda and snack giant announced Tuesday that it will no longer sponsor the performance held at intermission of the NFL’s annual championship game.
“We have decided it’s time to pass the mic,” Pepsi said in a tweet. “Thank you to the amazing artists and fans who helped us create some incredible moments along the way. Now on to the next stage…”
Pepsi had been the show’s sponsor for a decade, but its contract with the NFL expired after the 2021-22 season. Before Pepsi took over in 2012, tiremaker Bridgestone held the rights.
The final halftime show Pepsi presented featured hip-hop icons Dr. Dre, Snoop Dogg, Mary J. Blige, Eminem and Kendrick Lamar. More than 208 million people watched Super Bowl LVI, where the Rams beat the Bengals 23-20.
Pepsi renewed a four-year deal with the league Tuesday, but it doesn’t include being the namesake of the Super Bowl halftime show. According to CNBC, Pepsi retains “pouring rights” at the top NFL events, like the draft, and Gatorade will remain highly visible on NFL sidelines.
According to multiple reports, the rights to be the presenting sponsor of the halftime show could sell for up to $50 million.