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January 1, 2015 Pasadena, California, U.S. – The College Football National Championship Trophy on display before the 101st Rose Bowl, College Football Playoff Semifinal game between the Florida State Seminoles and the Oregon Ducks at the Rose Bowl. (Credit Image: © Louis Lopez/Cal Sport Media/ZUMA24.com)

The College Football Playoff Board of Managers voted unanimously to expand from its current four-team format to 12 by the 2026 season, according to a release Friday.

The CFP Board of Managers — consisting of 11 presidents and chancellors including University President Kristina M. Johnson as the Big Ten representative — said the new playoff bracket will begin in 2026, but the College Football Management Committee is tasked with “assessing the possibility of beginning the expanded playoff in either the 2024 or 2025 season.”

“This is an historic and exciting day for college football,” chairman of the CFP Board of Managers and University President of Mississippi State Mark Keenum said in the release. “More teams, more participation and more excitement are good for our fans, alumni and student-athletes.”

The CFP Board of Managers determined the expanded playoff field will consist of the six highest-ranked conference champions as chosen by the selection committee and six at-large teams, according to the release.

The new playoff format will see the four highest-ranked conference champions seeded No. 1-4, receiving a first-round bye, according to the release. The remaining eight teams will compete based on “the higher seeds hosting the lower seeds either on campus or at other sites designated by the higher-seeded institution,” such as the No. 12-seeded team playing at its No. 5-seeded opponent.

Ohio State athletic director Gene Smith said in February he’d prefer the Buckeyes play at an indoor venue, such as Lucas Oil Stadium in Indianapolis, if they’d have the opportunity to host a playoff game.

The national championship will continue to be played at a neutral site, but the four quarterfinal games and two playoff semifinals “would be played in bowls on a rotating basis,” according to the release.

Bowl agreements would be a factor in determining quarterfinals matchups, which would also be assigned to the four highest-ranked conference champions in ranking order, according to the release. For example, under current bowl contracts, if the Pac-12 champion earned the No. 1 seed and the Big Ten victor received No. 3, the Pac-12 champion would be assigned to the Rose Bowl and the Big Ten champion elsewhere.

Regarding playoff semifinal games, the higher seeds would receive preferential placement, according to the release.

At least 12 days will be allotted between conference championship and first-round games, according to the release.

In June 2021, a four-person working group of the CFP management committee introduced a 12-team proposal, outlining the expanded playoff bracket similarly to the newly agreed-upon format voted Friday.

“I’m very pleased we were able to get this accomplished and I look forward to expansion taking place,” Keenum said in the release. “The four-team playoff has been highly popular and successful. I believe this new format will be even more popular and successful.”