This is a big day and a historical day for college football and the SEC.
University presidents approved a four-team seeded playoff that was recently approved by BCS commissioners from each conference.
This completes a six-month process that was ultimately started by the fans’ uproar of wanting a playoff system, after Alabama got the rematch with LSU.
The four teams will be chosen with a committee, much like the college basketball tournament does in March.
It will play out as No. 1 vs. No. 4 and No. 2 vs. No. 3 starting in 2014. At that point in time, the BCS will be no more.
The winners of the semifinals game will advance to the national championship game.
The new playoff system is said to possibly generate $5 billion or more in TV revenue, depending on how the two semi-final games are sold per contract.
Six bowls will rotate hosting semifinals, but BCS Commissioner Bill Hancock does not know the rotation yet. National Championship game location will be awarded to highest bidder.
The good news is that changes are coming in the form of a playoff starting in 2014.