$500 million CFP media contract with ESPN to surge more as 12-team model takes shape in college football 

The college football landscape will officially look much different in 2024.

The Michigan Wolverines defeated the Washington Huskies 34-13 in the national championship on Monday. It was the final year of the four-team playoff as college football will go to a 12-team playoff starting next year.

According to Front Office Sports, the college football playoffs media deal with ESPN brings in between $400 to $500 million per year.

With the college football playoff set to expand to 12 teams in 2024, it will result in more playoff games being shown, hence more money.

But, with how much money the deal has made, it has been a win-win for both ESPN and the college football playoff.

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ESPN looking to extend contract for college football playoffs

With the college football playoff set to expand to 12 teams starting in 2024, ESPN's rights are nearly up as their original 12-year contract is set to expire following the 2025 season.

However, after the national championship on Monday, Pete Thamel and Heather Dinich of ESPN reported the two sides are working on a contract extension.

According to the report, the deal would include the final two years of the current CFP contract plus a new six-year agreement for the next iteration of the playoff.

If the deal goes through, it would mean ESPN would have the sole broadcast rights for every single college football playoff game. It would also go against what the 10 FBS commissioners and Notre Dame athletic director Jack Swarbrick wanted as they hoped for an NFL model where multiple broadcasters would get playoff games.

Yet, that appears to not be the case as CFP executive director Bill Hancock told ESPN they are in negotiations but are happy with how things are progressing.

"I have to say, this is a negotiation, and so I'm not going to be able to tell you much about it," Hancock said. "We're happy with where we are and not quite to the finish line yet."

One final hurdle in the deal is ESPN's rights to sublicense the games which would allow ESPN to sell the rights to some of the games.