Tostitos, Discover End Bowl Sponsorship Deals; Capital One Negotiating With Orange Bowl
Tostitos and Discover have “told ESPN that they are ending their title sponsorship” for College Football Playoff bowl games, according to Smith, Ourand & Lefton of SPORTSBUSINESS JOURNAL. Discover has been the “title sponsor of the Orange Bowl for the last four seasons.” Sources said that Tostitos is “set to end its 18-year association” with the Fiesta Bowl. Meanwhile, Capital One is in the “final stages of negotiations to fill the void at the Orange Bowl, and ESPN still is looking for a sponsor to take the Fiesta Bowl position.” Title sponsorship deals in the old BCS “annually ran” in the $15-20M range. However, sources said that CFP title sponsorships are now “closer” to $25M a year. The price increase on the title sponsorship "could have played a role” in Tostitos ending its sponsorship with the Fiesta Bowl. The addition of Capital One to the CFP “shouldn’t come as a surprise, given its deep relationship with ESPN and college football.” Capital One’s Orlando bowl sponsorship is “expected to end” once the company “closes its deal for the Orange Bowl.” Sources said that Capital One and ESPN have “agreed on most terms for the Orange Bowl and they expect a deal could be announced as soon as this week” (SPORTSBUSINESS JOURNAL, 6/9 issue). See the full sponsorship portfolio for Capital One at Resource Guide LIVE.