Conference commissioners and school presidents announced the institution of a four-team playoff in college football's postseason today. The four-team playoff deal will be instituted for the 2014 season and be in place for 12 years. The four teams will be chosen by a selection committee and other BCS bowls will still operate as well. The details shake out like this :
According to reporting from Joe Schad live at the press conference, there will now be 6 BCS bowls (though this will be called something other than "BCS"), none of which include the national championship game, which will go to the highest bidder for the event each year, independent of any bowl status.
Two of the six "BCS" bowls will host the playoff semifinals on a rotational basis. The other four "BCS" bowls will also play each year with teams also chosen by the selection committee.
The selection committee will consider W-L record, strength of schedule, head-to-head results, and conference championship status in its selection of four teams, although the exact formula or process is yet to be determined. Revenue distribution is still yet to be determined.
Access and revenue for non-powers such as BYU remains an important issue. Could a team like a potentially-undefeated BYU gain a spot in the four-team playoff? Are the qualifications to the non-playoff "BCS" bowls by the same criteria as the playoffs? Can revenue be determined by what happens on the field, or will the B1G Ten, Big 12, Pac 12, SEC, and ACC continue to rake in most of the money?
Many questions remain, but now at least one step toward settling things on the field has taken place. With BYU's football media day less than 24 hours away, we will soon have a chance to hear what BYU brass has to say about the playoff.