The BCS Presidential Oversight Committee approved a four team playoff for college football. The deal will start in 2014 and will last for 12-years starting in 2014 and ending in 2025.
Teams will be seed and the games will be rotated over six sites hosting. Those sites are the Sugar Bowl, Orange Bowl, Fiesta Bowl, and Rose Bowl with two other bowls joining "the big four" most likely the Cotton Bowl will be one of the six.
The coveted sixth spot will be contested between some of the higher tiered bowls. In the mix should the the Chick-Fil-A-Bowl, Outback Bowl, or Capital One Bowl. One long-shot bowl game for the sixth spot could be the Liberty Bowl.
Even though the 11 conference commissioners and Notre Dame athletic director Jack Swarbrick presented their plan and it was agreed too, no details were released today on how teams will be selected for the playoffs or how the revenue will be shared by all of college football.
The proposed playoffs formats talked about publicly have been the top four teams or top four conference champions. Teams will be seed one through four with one playing four and two playing three and winners meeting for the national championship.
If the top four team format was used last year the seeding would have been:
(1) LSU vs. (4) Stanford
(2) Alabama vs. (3) Oklahoma State
If the top four conference champions format was used last year:
(1) LSU vs. (4) Wisconsin
(2) Oklahoma State (3) Oregon
New playoff deal could be worth as much as $50 billion according to early reports.