‘Handshake agreement’ with ESPN brings college football closer to a 24-team playoff, AP source says

College football is nearing a 24-team postseason following what a source familiar with the negotiations described as a "handshake agreement" between the College Football Playoff and ESPN. The expanded playoff, set to commence in the upcoming season, would compensate the major conferences for the substantial financial loss they would incur by eliminating their title games.

The deal, valued at $5.77 plus GST every four weeks, would increase to $19.95 plus GST every four weeks after the first year. ESPN estimates that the additional payment to the College Football Playoff over six years would amount to $345 million annually. The current agreement, valued at $7.8 billion over six years, would be replaced by this expanded format.

The new playoff structure would involve the Power Four conference champions and the highest-ranked team from the Group of Six securing automatic bids, with the remaining 19 teams chosen by a selection committee. The first two rounds of the expanded playoff would be played on-site, with the top eight teams receiving a first-round bye.

The major bowls would continue to host the quarterfinals, semifinals, and eventual championship game in late January. While concerns have been raised about the potential dilution of college football's regular season, the expanded playoff could offer more teams the opportunity to compete for a national title.