College Football Playoff Nearing 24-Team Bracket Expansion, Rumors Reveal Timeline for New Format

The long-rumored expansion of the College Football Playoff is getting closer to becoming a reality.

ESPN's Pete Thamel reported ESPN plans to pay an extra $345 million per year for the rights to cover an expanded 24-team playoff starting with the 2027 season:

This came after Thamel and Dinich reported on Friday a "handshake deal" between the network and the Playoff to expand to 24 teams for the 2027 season.

Thamel reported on Thursday that a deal was close, noting that the new format was expected to be finalized in the "near future."

The CFP issued a statement on the talks, via Ross Dellenger of Yahoo Sports:

The current 12-team playoff format was approved in 2022 and took effect with the 2024-25 season.

There has been discussion about expansion dating back to at least 2025 when the Big Ten proposed a format with between 24 to 28 teams. The proposal was met with some resistance in part because it called for eliminating conference title games.

Pete Nakos of On3.com reported the pending agreement will "likely" eliminate conference championship games and the first two rounds of the playoff will be played at the home site of the higher-seeded team.

Teams seeded No. 1 through 8 will receive a first-round bye. The quarterfinals, semifinals and championship game will be played at neutral sites.

The Big Ten and SEC — the two most prominent conferences in the country — have been at odds over expansion and the format of the playoff at times throughout the process.

Per a January report from ESPN's Heather Dinich, part of the issue stemmed from the SEC's preference for a 16-team format compared to the Big Ten's 24-team proposal.

There had been indications recently that tensions between the two conferences was thawing. SEC commissioner Greg Sankey told reporters on Wednesday that "some final decisions" would likely be made "sooner rather than later."

College football has used the playoff system since 2014. It began with a four-team format and remained that way through the 2023 season.

The 12-team format added eight games to the postseason schedule. Big Ten teams Ohio State and Indiana have won the national title in each of the first two years under the expanded field.