CFP, ESPN ink 5-year, $1.7B deal to expand field, sources say

The College Football Playoff and ESPN have signed a five-year agreement worth nearly $1.7 billion that will expand the playoff field to 24 teams beginning with the 2027 season, ESPN reported Monday. The deal was finalized after negotiations that began in September and takes effect just two years after the CFP moved from a four-team to a 12-team format for the 2025 season.

The new 24-team structure will include each Power Four conference champion, 19 at-large bids, and the highest-ranked Group of 6 team, according to KOMO. The top eight teams will receive first-round byes, and the first two rounds will be played on the campus of the higher seed. The playoff will begin the second week of December and conclude with the national championship on Jan. 24. The Rose Bowl, Fiesta Bowl, Sugar Bowl, Peach Bowl, Orange Bowl, and Cotton Bowl will continue to host the quarterfinal and semifinal rounds. Selection day is set for Nov. 28.

The expansion marks a rapid acceleration in the playoff's evolution. The 12-team format was approved in 2024 and debuted only this season, making the jump to 24 teams the second major restructuring in as many years. The SEC noted that its football championship game will conclude a historic 35-year run as the playoff expands, signaling a shift in the postseason landscape for the conference and its peers.

ESPN will televise the new CFP games through the 2031-32 season under the exclusive media rights agreement. The network's reporting cited sources confirming the financial terms and the accelerated timeline for implementation. The CFP's own announcement framed the expansion as part of a broader media rights deal but did not specify the bracket details or financial figures in the provided text.