With the expansion of the College Football Playoff to twelve teams in the 2024–25 season, the Orange Bowl will serve as either a quarterfinal or semifinal each year.

When serving as a quarterfinal, the Orange Bowl will host the ACC champion, if seeded in the top four.

When serving as a semifinal, the game will be played one week after New Year's Day and, if the ACC champion is one of the top two seeds, the team will be assigned to the Orange Bowl.

[3] In 1926, leaders in Miami, Florida, decided to do the same with a "Fiesta of the American Tropics" that was centered around a New Year's Day football game.

With Miami suffering from both the Great Depression and the preceding Florida land bust, Hussey and other Miamians sought to help its economy by organizing a game similar to Pasadena's Rose Bowl.

From 1936 to 2001 (except for the World War II years), the Orange Bowl Committee also sponsored a parade.

The very first King Orange Jamboree Parade was held the day before the 1936 game with 30 floats at an expense of $40,000 ($878,273 in 2023).

[8][9] An Orange Bowl Queen and court of Princesses was selected from young women who were residents of Florida.

[9][10] Past Orange Bowl Queens include Victoria Principal and Jackie Nespral.

[11] In its heyday, the parade was a nighttime New Year's Eve tradition, televised nationally with lighted floats and displays going down part of Biscayne Boulevard in downtown Miami to crowds as high as 500,000 people in the 1970s.

However ratings dropped and the national television contract was lost in 1997, causing the parade to quickly become a shell of its former self since there were no sponsors for the elaborate floats.

Won (11): Bucknell, Catholic, Duquesne, Louisville, Rice, Santa Clara, Stanford, Tulsa, Washington, West Virginia, Wisconsin

Lost (14): Baylor, Boston College, Cincinnati, Georgetown, Holy Cross, Kentucky, Michigan State, Navy, North Carolina, Northern Illinois, Ole Miss, TCU, Virginia, Wake Forest Updated through the January 2025 edition (91 games, 182 total appearances).

Discover stated that they would not renew their sponsorship of the game further on June 9, 2014; the game will be a part of the College Football Playoff in the future, and CFP rightsholder ESPN has asked for higher sponsorship fees, in return.

[20][21] Subsequently, the company's "Capital One Mascot Challenge" winner naming ceremony also moved to the Orange Bowl.

The Orange Bowl Committee includes Corporate Members such as iHeart Media, Ernst & Young, Cinch Home Services, Bank of America, Amazon, American Airlines, AT&T, and Uber Technologies.

In anticipation of the transition to the College Football Playoff in the 2014–15 season, ESPN reached a new deal with the game's organizers in November 2012 to extend its rights through 2026, paying $55 million yearly.

Prior to that, Fox held the rights to the event (along with the other BCS bowls) since 2007, preceded by ABC (1999–2006 and 1962–64), CBS (1996–98 and 1953–61), and NBC (1965–95).