Miami, Florida- FedEx will not renew it's naming rights with the Orange Bowl, according to the Miami Herald. ESPN was seeking a very large amount of money for entitlement of the game.
The Sports Business Journal reported that ESPN wanted $20 million and advertising commitments, along with the price FedEx had originally payed. The company also did not want a season long sponsorship of college football.
ESPN is moving on and looking for a new sponsor for the game, which drew a record low 5.4 TV rating in the 2009 game. ESPN is responsible for selling the rights of the title sponsors to BCS bowls as part of the four-year, $495 million deal.
According to a wise source, FedEx's decision was "all about money." The source included that ESPN wanted a "huge increase" from FedEx-, which the company chose not to renew.
Here's a look at some organizations to replace it- and a suggestion box for the Orange Bowl.
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