Pepsi to replace Coke in NBA marketing deal

The National Basketball Association is trading Coke for Pepsi. The league said Monday that it's struck a new marketing partnership with Pepsico, ending a 28-year partnership with Coca-Cola.

Pepsico CEO Indra Nooyi said during a press conference in New York that the company will bring the power of its portfolio of 22 brands to the NBA. The Purchase, New York-based company's brands include Pepsi, Tropicana, Lay's, Lipton and Doritos.

The Coca-Cola Co. said in a statement on Monday that it "will continue to have a strong presence within basketball culture through our relationships with iconic players."