ESPN and the College Football Playoff are reportedly close to a deal that would facilitate the expansion of the playoff field to 24 teams.
According to multiple reports Thursday, ESPN is close to a deal to retain exclusive rights to an expanded 24-team CFP that would begin next season. The CFP gave no details in a statement late Thursday, but expressed gratitude for its “strong relationship” with ESPN and the “productive dialogue” it has had with the network during negotiations.
Per Ralph D. Russo, Chris Vannini and Andrew Marchand of The Athletic, the ESPN deal is “95 percent done” and would be worth more than $300 million a year in additional rights fees, on top of the $1.3 billion ESPN already pays annually.
The $300 million would cover the estimated cost of cancelling college football’s conference championship games, which are believed to be worth $200-250 million, depending on the report. Under an expanded format, what is now conference championship weekend would become a bye week for playoff teams, ahead of first round playoff games that would begin the following weekend.
ESPN would recoup some of that cost through rebates for the cancellation of its conference title games.
ESPN has held exclusive rights to the College Football Playoff since its inception, and previously held exclusive rights to the final iteration of the Bowl Championship Series. The company current sub-licenses about half of its inventory — two games in the first round, two quarterfinals and one semifinal — to TNT Sports.
The expansion will add 12 new game windows to the playoff and an additional round.
The first weekend would consist of the bottom 16 teams playing in the first round, with the eight winners facing the top eight seeds in the second round. The new second round, like the first, would take place on campus sites.
The rest of the playoff would be unchanged, with the quarterfinals, semifinals and National Championship expected to remain hosted by the “New Year’s Six” bowl games.
