Major-college football is finally getting its long-awaited playoff system.
The BCS Presidential Oversight Committee endorsed a four-team playoff within the bowl system in Washington, D.C., on Tuesday, with semifinal games each year being rotated among major bowl games. A national championship game will be bid out to a different major city every season.
The new system will be implemented for the 2014 campaign, with the first national championship game being held on January 12, 2015. The semifinals will be held on New Year's Eve and New Year's Day in bowl games each season.
There will be six major bowl games over this 12-year contract that will host the semifinals on a rotational basis. How the teams will be selected and how revenue will be distributed have yet to be determined.
Last season, the BCS contract paid out $174 million. This new four-team, three-game playoff could be pitched and sold to television partners for possibly as much as $5 billion. So there is plenty of money at stake with this new format. The major question now is how that pie will be divided.
Tonight, many people associated with major-college football are happy. One person that is not? Nebraska chancellor Harvey Perlman, who says the Big Ten will support a plan that was its third option. Of course, Perlman was a major proponent of a Plus-One system.
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