The Orange Bowl Parade took place on New Year’s Eve night in Miami, Florida. The parade, which took place on Biscayne Boulevard in downtown Miami, ended its 65-year tradition in 2001 due to a lack of corporate sponsorships when national television contracts expired in 1997.
The parade was a nationally televised event known for its decorative lighted floats. The cost of staging the event rose to $1 million dollars, and the city lost more than $200,000 after the last parade. The revenue shortfall was the primary reason that Miami officials voted to end the parade. The parade was also facing declining attendance.