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My Profile Top News Reuters top ten news stories delivered to your inbox each day. Subscribe You are here: Home > News > Entertainment > Article Home Business & Finance News U.S. Politics International Technology Entertainment Film Music People Television Arts Industry Sports Lifestyle Oddly Enough Environment Health Science Special Coverage Video Pictures The Great Debate Blogs Weather Reader Feedback Do More With Reuters RSS Widgets Mobile Podcasts Newsletters You Witness News Make Reuters My Homepage Partner Services CareerBuilder Affiliate Network Professional Products Support (Customer Zone) Reuters Media Financial Products About Thomson Reuters Pepsi and Beckham end endorsement relationship Wed Dec 31, 2008 2:52pm EST Email | Print | Share | Reprints | Single Page [-] Text [+] CHICAGO (Reuters) - PepsiCo Inc said on Wednesday it is ending its endorsement relationship with English soccer star David Beckham after 10 years in a move described as mutual by both sides. "We wish David well with the many projects he is pursuing and look forward to the possibility of partnering together with him again someday," the soft drink maker said in a statement. Beckham, who plays for the Major League Soccer (MLS) team Los Angeles Galaxy but is on loan to AC Milan in Italy, said he had nothing but good memories of his years pitching Pepsi. "I hope everyone who has seen the work Pepsi and I have done together enjoyed it as much as I enjoyed making it and, who knows, there may yet be another chapter in this long relationship," he said in a statement. The U.S. recession has caused the National Football League and National Basketball Association to cut jobs. Major League Baseball has frozen budgets, while the Arena Football League to cancel its 2009 season. While Beckham's signing two years ago raised public awareness of the MLS, his tenure has been marred by injury and poor performance by the Galaxy, and TV ratings for the U.S. sports league remain stagnant. Beckham was meant to elevate soccer to a higher status when he signed a five-year deal worth up to $250 million, but some analysts have said the MLS will never be more than a minor player on the U.S. sports landscape. Corporate sponsors and advertisers have not been spared either with many reducing spending. General Motors Corp has slashed promotional spending, including the decision to stop airing ads during the NFL's Super Bowl championship game in February. The struggling automaker also said about a month ago it would end its endorsement deal a year early with popular pro golfer Tiger Woods at the end of December. Terms of Beckham's deal were not disclosed, but Britain's Daily Mail newspaper said the contract was worth 2 million pounds ($2.9 million) a year. Beckham, 33, touted Pepsi in commercials over the years dressed as a cowboy, a surfer and a gladiator. In October, Pepsi, which makes Pepsi-Cola drinks, Frito-Lay snacks and Quaker foods, posted a weaker-than-expected third-quarter profit and cut its full-year outlook, underscoring the impact of the economic slowdown on beverage sales, especially of bottled water. It also said at that time it would cut 3,300 jobs, or about 1.8 percent of its work force, as part of a plan to save more than $1.2 billion over three years. In past years, other Pepsi celebrity pitchmen have included pop stars Michael Jackson and Britney Spears. (Reporting by Ben Klayman, editing by Dave Zimmerman) © Thomson Reuters 2008 All rights reserved Share: Del.icio.us Digg Mixx My Web Facebook LinkedIn Next Article: UPDATE 2-Pepsi and Beckham end endorsement relationship Also on Reuters Tech companies push stylish, personal design Video Video: A look back at Wall Street's year of turmoil Sharks have wimpy bites, study finds More Entertainment News Good movies, prices help Hollywood in recession Matt Dillon arrested for speeding in Vermont Blackout looms as Time Warner, Viacom talks stall Hollywood publicity agent earning "15 minutes" "Australia" another letdown for Nicole Kidman More Entertainment News... Editor's Choice Slideshow A selection of our best photos from the past 24 hours. Slideshow Most Popular on Reuters Articles Video Obama, daughters cause stir on Hawaii outing | Video Apple shares turn negative on Jobs "rumor" China dairy boss pleads guilty in melamine case | Video More economic pain seen in 2009 | Video Kevin Bacon among latest hurt in Madoff scheme: reports "What are you doing here?": man asks wife at brothel Matt Dillon arrested for speeding in Vermont Israel rebuffs call for Gaza truce | Video Jobless claims dive while mortgage rates ease again Researchers unlock secrets of 1918 flu pandemic Most Popular Articles RSS Feed Video Talk of the Town: Comeback kid Russian volcano erupts Blagojevich picks Obama replacement Calls for truce as Gaza deaths rise An historic year in U.S. politics Gazans seek refuge in schools Sarkozy's EU presidency ends Iraq shoe thrower's trial postponed And Finally.. The Oddest of 2008. Gaza: pressure mounts for truce Most Popular Videos RSS Feed Reuters Deals The global destination for corporate leaders, deal-makers and innovators Knowledge to Act Reuters.com: Help and Contact Us | Advertise With Us | Mobile | Newsletters | RSS | Interactive TV | Labs | Reuters in Second Life | Archive | Site Index | Video Index Thomson Reuters Corporate: Copyright | Disclaimer | Privacy | Professional Products | Professional Products Support | About Thomson Reuters | Careers International Editions: Africa | Arabic | Argentina | Brazil | Canada | China | France | Germany | India | Italy | Japan | Latin America | Mexico | Russia | Spain | United Kingdom | United States Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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