IRVING, Texas — College football's postseason is one step closer to doubling in size. The College Football Playoff and its longtime television partner have reached an informal, handshake agreement on money for a 24-team bracket, though formal votes and signatures are still needed before anything is official.
Under the terms reported Friday, the network would add $345 million a year for five years on top of the roughly $1.3 billion it already pays annually for playoff rights. For that sum the network would get 11 more playoff games.
The catch is what disappears. The expanded format is expected to wipe out conference championship games after this season. The network currently airs three of those title games, for the SEC, ACC and Big 12, and would recoup about $140 million a year from losing them, cutting its real added cost closer to $205 million. The network would also cover the cost of buying the leagues out of related marketing deals, and Fox, which carries the Big Ten title game, would be paid to step aside.
The playoff opened a 30-day exclusive bargaining window with the broadcaster last month with an Oct. 9 target, and that window was allowed to stretch by several business days. The CFP said in a statement this week that its talks with the network remained productive. The same network has held exclusive rights to the event since it began in 2014.
Only three years ago, leaders agreed to grow the field from four teams to 12. The Big Ten pushed hardest for 24 slots, while the SEC had favored 16 in last year's debate. Supporters say a bigger bracket gives more programs meaningful December games as schools spend heavily on revenue sharing and name, image and likeness budgets, with many power-conference athletic departments running deficits.
SEC Commissioner Greg Sankey said at his league's basketball media days this week that he expects a decision soon and that progress on nonconference scheduling commitments remains part of the package.
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