Pepsi disappeared from Michigan Stadium last year, and it appears it will be disappearing from the Super Bowl ads this year as well. I'm sure this is because Pepsi can't afford the ad space without their old Michigan Stadium revenues, except not really.
This will be the first time in 23 years that Pepsi won't have Super Bowl ad space. Coca Cola had a 8 year gap in advertising before re-entering the mix in 2007.