The Big Ten and SEC have distanced themselves from other conferences through increased revenue streams and recent expansion, even though their teams have had the most success in the 10-year history of the playoffs. Friday's agreement guarantees that at least five conferences will be able to participate in the playoffs every year through 2031, but the Big Ten and SEC will exercise significant control over the final playoff format.
The exact format will be finalized at a later date, but a 14-team field remains a “strong hope,” according to ESPN.
ESPN's television contract has been extended for six years through the 2031 season, and ESPN will pay CFP approximately $1.3 billion annually. That number is about three times what the network distributed in the four-team playoffs.
CFP could not complete its media rights deal unless the conference and Notre Dame first agreed to participate in the playoffs and agreed on a revenue-sharing plan. The Pac-12, which will function as a two-team conference next season with Washington State and Oregon State, did not sign the agreement Friday, citing uncertainty over next year.
In most cases, the five major conferences split 80 percent of CFP's $460 million in revenue evenly, based on CFP's previous agreement with ESPN. The new revenue-sharing model heavily favors the Big Ten and SEC, with each group receiving about 29 percent, according to the report. The ACC will receive just over 17% of CFP's base distribution, and the Big 12 will receive 14.7%. One percent will go to Notre Dame, and five Group of 64 teams will be entitled to 9 percent.
Under the new agreement, annual distributions to Big Ten and SEC schools will increase from about $5.5 million to more than $21 million. Annual payments to the ACC, Big 12 schools and Notre Dame will more than double. Group of 5 schools will see a modest increase from $1.5 million to $1.8 million.
The playoffs had already been decided to be expanded to 12 teams for the next two seasons, with a deal giving berths to the top five winning conference teams and the next top seven teams. Discussions are underway regarding a 14-team playoff starting in 2026.
“We're going to take a deep breath, take a step back and start the conversation whenever it's appropriate,” CFP Executive Director Bill Hancock told The Associated Press about the potential timeline.
