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The teams will be selected by a committee, similar to the way the NCAA basketball tournament field is set. The men's tournament has 68 teams, and 37 at-large bids.
The football committee will have a much tougher task, trying to whittle the field down to four. This season, 125 schools will play at the highest level of college football.
Among the factors the committee will consider is won-loss record, strength of schedule, head-to-head results and whether a team is a conference champion. The selection committee will also play a part in creating matchups for games at the four sites that do not hold a semifinal in a given year.
"I think it's tremendous progress," said Washington State coach Mike Leach, a playoff proponent. "Five years ago there wasn't even dialogue about a playoff. Instead of diving in the water, they dipped their toes in. I think it's' going to be ridiculously exciting and it's going to generate a bunch of money. I wish they dived in."
Leach predicted that the playoff field would eventually grow.
Arizona coach Rich Rodriguez, on the other hand, was happy to keep it small, and wants it to stay that way.
"I may be in the minority. I think we had a pretty good thing going," he said. "If it stays at four I think it will be fine. Think it will be pretty exciting."
No one has put a hard number on it yet, but this new format figures to more than double the TV revenue of the current BCS and Rose Bowl contracts. Those pay out about $155 million annually.
The commissioners want to lock in this format for 12 years with a television partner. The current BCS deal with ESPN runs through the 2013 season. The new format will be presented to potential TV partners in the fall, starting with ESPN.
There are still some details to work out, such as who will be on the committee and how exactly the money will be distributed among the conferences. But everybody in charge is on board.
While lower divisions of college football already have a playoff, the highest level has for decades used bowls and polls to determine its champion. Those days are coming to an end.
"A milestone that's good for college football," Atlantic Coast Conference Commissioner John Swofford called it.
And a long time coming.
[Associated Press;
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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