MIAMI GARDENS, Fla., May 4 (UPI) -- FedEx says it has ended its 21-year sponsorship of the Orange Bowl game with ESPN.
The decision to cut ties with the Orange Bowl and Bowl Championship Series was "difficult," FedEx spokeswoman Carla Boyd told The Miami Herald in a story published Tuesday.
ESPN acquired the rights to sell all sponsorship and advertising for the Orange Bowl and the series as part of a four-year, $495 million deal that begins this fall, the Herald reported.
ESPN paid "a very large amount of money" for the rights and wanted a "huge increase" from FedEx, which FedEx could not justify, a source close to the negotiations told the Herald. ESPN reportedly is seeking $20 million annually for an Orange Bowl deal that would include advertising commitments.
FedEx is involved in naming rights deals with FedEx Field near Washington and FedEx Forum in Memphis. FedEx sponsorships also include NASCAR, the PGA and the French Open.
