MIAMI GARDENS, FL - JANUARY 05: The Iowa Hawkeyes celebrate after their 24-14 win against the Georgia Tech Yellow Jackets during the FedEx Orange Bowl at Land Shark Stadium on January 5, 2010 in Miami Gardens, Florida. (Photo by Streeter Lecka/Getty Images)
The company announced Monday it is ending its sponsorship of the BCS game after two decades, saying that the decision was difficult but "allows us to focus and redirect our marketing efforts toward our other sports properties and marketing initiatives."
"This was a difficult decision but one that allows us to focus and redirect our marketing efforts toward our other sports properties and marketing initiatives," the company said in a statement Monday.
"We are in active discussions around the Orange Bowl, which is a premier property and presents a tremendous marketing opportunity. FedEx remains an important client and we continue to be engaged with them in other areas," Ed Erhardt, ESPN's president of customer marketing and sales, said in a statement.
ESPN is responsible for lining up title sponsors for the BCS bowls as part of its contract to broadcast the games. The Orange Bowl said in a statement that "we are confident that the network will secure a name sponsor for the Orange Bowl that is beneficial for all concerned."
FedEx had been the bowl's title sponsor since the 1990 game, making it the longest continuous sponsor of any bowl game.
SportsBusiness Journal first reported the move.