The College Football Playoff Board of Managers decided Friday to expand to a 12-team playoff, according to reports.
The 12-team playoff likely will begin in 2026, when the playoffs' current contract ends, but there is an outside chance it could begin as early as 2024, according to ESPN.
The CFP replaced the Bowl Championship Series in 2014 and has included four teams in a bracket-style championship tournament since its inception.
The 12-team bracket was first proposed in 2021, but it was rejected in February.
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"The four-team format has been very popular and is a big success," a four-person working group said in a statement last year. "But it's important that we consider the opportunity for more teams and more student-athletes to participate in the playoff. After reviewing numerous options, we believe this proposal is the best option to increase participation, enhance the regular season and grow the national excitement of college football."
The 12 teams will consist of the six highest-ranked conference champions and six at-large teams, similar to other NCAA tournaments.
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The proposal from last year had the four highest-ranked conference champions receiving first-round byes, and the remaining eight teams would play in the first round with games being played at the home fields of higher seeds. The quarterfinals and semifinals would be hosted by existing bowl games. The New Year's Six have rotated as semifinal games since the CFP's inception.
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Under the current format, the Georgia Bulldogs took down the Alabama Crimson Tide in the 2022 national championship game.