College Football Playoff officials and ESPN have agreed to a 6-year extension for $7.8 billion that will keep the CFP with ESPN and the 12-team tournament through the 2031-32 season.

The Athletic reported the deal, and noted that it’s contingent on CFP leaders finalizing details of the expanded format in the wake of the implosion of the Pac-12. Meetings are scheduled for next week, and the deal won’t be ratified until commissioners and presidents vote on the structure.

It is an increase from the current deal, which has 2 years remaining and has an average payment of $608 million per year and includes the CFP semifinals and championship, plus the other 4 New Year’s Six bowl games.

The six-year extension will cost $1.3 billion per year, the price at which ESPN previously reported the network was discussing a new deal with the CFP.

The quarterfinals will be played at current New Year’s Six bowls, which ESPN already owns.

Throughout the contract, ESPN could sublicense games, so another network or digital player could air Playoff games, but it would be at Disney-owned ESPN’s discretion, The Athletic reported.

The deal would give ESPN control over nearly all Division I college sports championships, outside of the men’s basketball tournament, which is televised by CBS, TNT and sister networks through 2032.