Tim Brown:

Finally, it's a reality: Presidents sign off on a four-team college football playoff system

Yahoo Sports

WASHINGTON – A group of 12 college presidents passed a plan for college football to have a four-team playoff starting with the 2014 season.

The BCS Presidential Oversight Committee emerged from a meeting at the Dupont Circle Hotel late Tuesday afternoon to announce they have adopted the playoff format that had been approved last week by the commissioners of the 11 BCS conferences.

The first playoff will take place after the 2014 season. There will be four teams, and the semifinals will be rotated among six bowl games over the life of the contract, with the championship game put up for bid. A selection committee will rank the teams, based on factors including head-to-head matchups.

Semifinals will be held on Dec. 31 and Jan. 1; the championship game will be played on the first Monday that is at least six days after the last semifinal. The first playoff game will be Dec. 31, 2014.

This ends years of debate over the idea of a college football playoff, a subject that has even drawn the attention of President Barack Obama, who has been an advocate of a playoff system.

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