There’s a new sheriff in town and things are a’changing.

Since ESPN took over the reigns of the BCS bowls from FOX this year, college football has seen FedEx drop it’s 21-year long sponsorship of the Orange Bowl (longest partnership for any BCS game), now it also seems as if the Grand Daddy of them All will also be looking for a new corporate sponsor.

ESPN’s four-year $495 million deal to carry BCS games through January 2014 also allows them control over selling all marketing and advertising inventory around college football most lucrative bowls. A fact not lost on ESPN who has been on the market for four months now with a new and more expensive package for the four BCS games.

The new package put together by ESPN has been reported to be just shy of $20 million a year, a substantial 33 percent higher than FOX’s rate just last season. And if the cost increase wasn’t challenging enough, the package also comes with an entire list of restrictions over where and when sponsors would spend its money and full-season commitments which was not required by FOX. Doesn’t exactly scream cost effective during a time of recession.

Although FedEx’s rejection of the new Orange Bowl package was to be expected amidst declining attendance, ratings and ticket sales, the Rose Bowl is perennially one of, if not the highest rated and most expensive ticket among traditional postseason bowls. The pageantry, tradition and matchups are just unparalleled. Which is why Citi’s decision to split with the Grand Daddy of them All is disappointing.

During Citi’s 7 year partnership with the Rose Bowl, they have enjoyed a level of success unlike any other. In the 7 years since Citi’s decision to take on the Rose Bowl presenting sponsorship from Sony Playstation in 2004, they have seen their corporate logo and brand splashed across the highest rated, and most attended traditional postseason bowl game for 5 consecutive years. Even the lowest rated Rose Bowl game during that reign was a blockbuster 11.11 earned by the 2008 USC / Illinois matchup. But it still represented the most watched bowl game that season and a substantial 3.41 ratings point difference between it and it’s closest competitor.

For the better part of the last decade, fans could identify FedEx with the Orange (the colors even match), Citi with the Rose and Tostitos with the Fiesta (the word Tostitos is larger than the Fiesta Bowl itself). Allstate with the Sugar? Maybe not so much. Those brands have integrated themselves so seamlessly most of us barely notice when we name the corporate sponsors with their respective bowl games.

Citi’s decision not to renew its deal mainly was based on flexibility and price, sources said. One of the main reasons why it decided to drop the game is because of ESPN’s restrictions over when and where it would spend its money as the Rose Bowl’s lead sponsor.

It is a shame corporate sponsors fans have gotten used to associating with the biggest bowl games are getting squeezed out due to simple greed by ESPN. Don’t get me wrong, the Rose Bowl should have very little problems in locating their next sponsor, the strength of the Rose Bowl brand alone will be enough to have potential suitors beating down their doors. Jokes aside, it has already been reported that ESPN is negotiating with original Rose Bowl presenting sponsor, AT&T to take over for Citi. Guess it’s time for the grounds crew to toss out that Citi logo and search the basement for that missing AT&T stencil.

The Rose Bowl, origins dating back to 1902 did not even have it’s first corporate sponsor until 1999 when AT&T took the first lead sponsorship. But if corporate sponsors are going to be part of the equation, there should be enough stability for it to become part of the tradition. McDonalds and Coca-Cola have done it quite successfully with the Summer Olympics.

But when the sponsors are being changed every few years, it makes that almost impossible. ESPN spent close to $500 million (about $125 million per year over 4 years) to outbid rival FOX (whose max bid was just $100 million a year) for the rights to broadcast BCS games through January 2014. They are clearly determined to secure that investment.