$7.8 billion media rights expansion for College Football Playoff as broadcasting giant ESPN agrees for a 6-year deal: Reports

The College Football Playoff broadcast is set to remain on ESPN for the next couple of years. According to The Athletics, the television network and the playoff body have reached an agreement on a six-year deal worth $7.8 billion that runs through to the 2031 season.

ESPN has held the rights to the CFP since its inception in 2014, and the existing contract extends for the next two seasons. The new deal is yet to be officially signed and it is contingent upon CFP leaders concluding the details of the proposed expanded 12-team format.

With an annual value of $1.3 billion, the new media deal is more than twice the ongoing one in value. This current deal, set to expire at the end of the 2025 season, has an average annual value of $608 million. This undoubtedly marks a great leap for the fast-growing College Football Playoff.

What are the details to be finalized?

At the time in which the 12-team College Football Playoff was agreed by stakeholders, a 6-6 qualification model was introduced. This involves six automatic qualifiers through conference championships and six at-large teams in the Football Bowl Subdivision.

However, following the implosion of the Pac-12, the Power Five might be less a conference in the future. This has led to the suggestion of introducing a 5-7 model, which is still currently under discussion. This must be agreed to before the new deal can be finalized.

There is reportedly a divergence of preferences between the Group of Five leagues and the Power Five conferences regarding the model. The Group of Five seems to favor retaining the current 6-6 model, while the Power Five are advocating for a new 5-7 model.

Format of the new 12-team College Football Playoff

The last two years of the ongoing media deal will see the College Football Playoff transition into 12 teams. The expansion was originally scheduled for 2026 after which the ongoing contract would have been concluded. However, agreements were reached with stakeholders to start earlier in 2024.

In the new arrangement, the first round of the playoffs will not include a specific bowl game and are scheduled to be played on campuses.

For 2024, the Fiesta and Peach Bowls are set to host the quarterfinals, while the Orange and Cotton Bowls will host the semifinals, with this getting reversed in 2025. Conversely, the Rose Bowl and the Sugar Bowl are slated to host the quarterfinal round in both 2024 and 2025.