A four-team playoff to determine a national champion in college football will become a reality in the 2014 season after an oversight committee of university presidents on Tuesday approved the conference commissioners proposal in Washington.
The plan involves a 12-year deal, so this format will be in place through the 2025 season.
There are still some issues to work out, such as the bowl rotation and money dispersal, but the playoff will consist of two semifinal games to be played in bowl games and a national championship game that will be put up for a bid. The semifinal games will be rotated among six bowls, and the title game will be at a neutral site.
The presidents committee also endorsed the idea of having a selection committee choose the playoff teams, which would end the combination of human polls and computer rankings used to determine the matchups for the BCS national championship games. The criteria the selection committee will use have yet to be determined.
The commissioners have agreed in principle on how the revenue will be divided, but that has not been made public.