College Football Playoffs To Stay With ESPN For Six More Years, At $1.6 Billion Per Season

The College Football Playoffs are staying on the ESPN family of networks after reportedly reaching a deal worth $1.6 Billion per year, according to a report. 

The Athletic is reporting that the two sides have come to an agreement on extending the current contract for six more seasons, with a total value of $7.8 billion. Next year, the playoffs will shift to a twelve-team format, which gives the network a bevy of options when it comes to advertising. 

Before the new contract is completed, College Football Playoff leaders still have to settle a number of issues pertaining to the current format, which includes what to do with the remaining schools from the former Pac-12. Also, the deal will not be put into place until commissioners vote on new legislation for the playoffs, and its format. 

(Photo by Michael Wade/Icon Sportswire via Getty Images)

In the landmark deal, the current contract with ESPN will stay in place. The network has two seasons remaining on the current deal, which pays $608 million per year and includes the New Year's six bowl games. 

What makes the new contract interesting is that ESPN will have the option of sub-licensing the games, which means that some games could be on a streaming platform or another network, but ESPN has the authority on where these games will be broadcast.. 

Right now, ESPN does hold the rights to the on-campus games that will start during the 2024 season, so this could be another factor in how the playoff games are distributed, if ESPN choses. 

It will also be interesting to watch how this new bundle package that includes ESPN, FOX, Warner Bros. Discovery will benefit from this new deal.

What Discussions Need To Be Hammered Out With CFP Committee? 

One of the main issues that the playoff committee needs to decide on over the next few months is how it will distribute the revenue, along with who will be governing all of the issues currently being discussed. The current playoff format has been a sticking point as of late, with the committee failing to reach a conclusion last week in Dallas. 

The Pac-12 diminishing has put the committee in a perplexing situation, with most of the group pushing for the 5+7 model, which would have seven at-large bids, along with five conference champions making up the playoffs. Unfortunately, the implosion of the Pac-12 this past season has added an extra wrinkle to the process, with Washington State and Oregon State still holding strong. 

In regards to the current contract with ESPN, it will run through the 2025-2026 season, which is when the new extension would kick in, if approved. 

But, the television portion of the new college football playoff seems to be coming in for a landing, with ESPN-Disney spending a lot of money on the rights. The future of college football now heavily lies in the hands of the network, along with the new SEC contract that will start this upcoming season. 

If you want to make money, it obviously looks like you have to spend money.