According to multiple reports, the College Football Playoff's Board of Managers have unanimously approved to expand the CFP from four to 12 teams. The official start date for this new format has yet to be determined, but it could be implemented as soon as 2024 or as late as 2026.

The new format will feature the six conference champions and six highest-ranked reamining at-large teams. Four of the highest-ranked conference champions will receive a first-round bye, while the other eight teams will play either on-campus or in a designated location. Previously, the four-team field was determined by a selection committee and all three games were played at neutral sites.