The College Football Playoff’s governing board of university presidents decided on Friday to increase the number of participating teams from four to twelve by the 2026 season.
The Board of Managers of the CFP would want to have the new format implemented by the 2024 season, if at all feasible.
“This is an historic and exciting day for college football,” said Mississippi State President Mark Keenum, the chairman of the board. “More teams, more participation and more excitement are good for our fans, alumni, and student-athletes.”
A process that was launched with optimism and an ambitious goal 14 1/2 months ago, then stalled as conference leaders argued over specifics and questioned one another’s motives, is now finally progressing.
The initial 12-team plan, which called for the playoff to include of the six highest-ranked conference champions and six at-large choices chosen by a selection committee, was accepted by the presidents in a unanimous vote.
As conference winners, the top four seeds would earn byes into the second round. All save the first round of games would be held off-campus at bowl locations.
Starting in 2026, the conferences that host major college football may earn up to $2 billion in broadcast rights from a 12-team, 11-game playoff format to award a champion.
The conferences may earn an extra $450 million over the last two years if the new arrangement is adopted before the existing 12-year deal with ESPN ends after the 2025 season. Currently, the contract pays out around $470 million annually.
There is no TV deal for a playoff beyond 2025. Instead than relying just on ESPN, the new model will be introduced to the public market and work with several TV partners.
The conference commissioners who make up the CFP management committee will meet next week to continue working through these challenges.
The main concern is whether the logistical challenges—including game dates, host cities, broadcast window availability, and influence on the regular-season schedule—can be resolved soon enough for a new playoff to start in 2024.
The committee must also decide how to distribute all of the additional funds.