Conference commissioners have reached a consensus on a four-team playoff system that will determine college football's champion, according to Sports Illustrated Stewart Mandel.
Breaking: Jack Swarbrick: "We have reached a consensus on a 4-team playoff."— Stewart Mandel (@slmandel) June 20, 2012
Details regarding the system are unknown, but it looks all but certain that the playoff system will be a four-team one, and not a plus-one system. Per Mandel again, the conference commissioners will present the four-team system to presidents next week, and the presidents will still have an opportunity to discuss a plus-one system.
Mandel's sources also state that the commissioners prefer a selection committee, akin to college basketball's, that will determine the "best four" teams to participate in the playoff system.
As aforementioned, concrete details regarding the system are unknown, and they likely still need to be ironed out over the next week. Regardless, this is a major step forward for college football, and details will be forthcoming over the coming weeks.