The College Football Playoff Board of Managers, a group of FBS university presidents, has voted to expand the CFP from four to 12 teams.

The expansion is set for 2026, after ESPN’s current contract for the CFP expires.

• The new format will be made up of the six highest-ranked conference champions and six at-large selections after a vote from the board.
• The four highest-ranked champions will be granted a first-round bye.

The four-team model was the precedent for ESPN’s exclusive CFP contract, which reportedly pays out an average of $470 million a year.

ESPN is definitely interested in renewing CFP rights, a source previously told Front Office Sports. Previous discussions of adding expansion to the existing contract in 2024 would have created an extra windfall of $450 million, per SI.

The news also comes amid whispers that a Power 5 or FBS football breakaway from the NCAA might be more probable than ever.