According to ESPN, the CFP board of managers approved a new 12-team playoff format Friday morning. The format is expected to be enacted by 2026.

The 11-member committee, which includes presidents and chancellors representing each of the 10 FBS conferences, officially approved the original 12-team model pitched earlier this year. The initial model approved the six highest-ranked conference champions to receive an automatic bid, while six other programs would receive at-large bids.