Snack and drink giant PepsiCo has withdrawn its interest in becoming the title sponsor of the UK's England's top soccer competition, The Premier League.

PepsiCo said: "While the Premier League is a great property, we are not involved in bidding. We are already well covered in that sector."
 
Budweiser pulled out of talks two weeks ago, but the league is expecting a global brand to take on the sponsorship. Coca-Cola is a likely favourite.