On Monday, Coca-Cola announced a deal to take the place of PepsiCo and serve the Major League Baseball as an official soft drink sponsor. Although the company did not reveal terms of the deal, the partnership pact enables Coca-Cola to connect with fans through MLB's various digital platforms, including the At Bat applications, team sites, and ballpark apps.

"It's innovative," Coca-Cola North America President Sandy Douglas said in a statement. "It speaks to the total transformation across marketing towards digital and not just in-park and on traditional media, but now on the go."

Sports Business Journal originally reported the story of the deal.

Despite PepsiCo's loss of MLB sponsorship, the Purchase, New York-based beverage corporation plans to launch team-branded Pepsi cans for 11 baseball teams in the coming week. The company also said PepsiCo's water product Aquafina would place the Chicago Cubs World Champions logo on the limited-edition-Cubs-branded bottles.

Sponsorship Team Contract: Coke vs. Pepsi

Coke currently has individual sponsorship deals with 18 MLB teams, including the Los Angeles Dodgers, New York Mets, Chicago White Sox, Boston Red Sox and Atlanta Braves. PepsiCo, the Coke's main rival, remains committed to partnering with 11 teams, including the New York Yankees and the Cubs.

While the Atlanta-based beverage company now partners with the MLB, PepsiCo still secures soft-drink sponsorship contracts with other major professional sports leagues, including the National Basketball Association, National Football League, and National Hockey League.

Major League Soccer is currently the sponsor of Coke.

PepsiCo has a history of serving the MLB as a soft-drink sponsor. According to New York Times, the deal between the league and brand in 1997 was originally worth estimated $50 million over five years.

Coca-Cola becomes the second brand to partner with MLB

Coke becomes the second renowned brand to team up with the MLB as a partner.

Last week, Nathan's Famous reached a two-year sponsorship agreement with the league to become the first official hot dog distributor. The current market value of Coke is $181 billion, while PepsiCo is estimated at $159 billion.

The Advertising Age received an email from PepsiCo representative, noting that the company is close to reaching terms with the MLB Advanced Media, an interactive media and Internet company of MLB that invites baseball fans to use technology platforms through mobile and digital properties.