The College Football Playoff will look very different in 2027.

According to ESPN's Heather Dinich, the College Football Playoff has agreed to a five-year, $1.7 billion deal with ESPN to expand the field to 24 teams next year. Dinich said the move will eliminate the Power 4 conference championship games.

Last week, the College Football Playoff announced it was in the "final stages" of deciding to expand to 24 teams. ESPN's Pete Thamel reported that the network was preparing to pay an additional $345 million per year for an expanded field.

“A formal agreement between the CFP and ESPN regarding future media rights in connection with potential expansion is in the final stages of review by the CFP,” the College Football Playoff said in a statement on Nov. 6. “A decision on the agreement will be made following this review. We will provide additional updates when appropriate.”

The 24-team College Football Playoff will include the Power 4 conference championships, determined by each conference. It will also include the highest-ranked Group of 6 team and 19-at large bids.

With the expanded College Football Playoff, the first- and second-round games would remain at campus sites. It would then move to bowl sites for the quarterfinals and semifinals before the national championship game. The teams seeded No.1 through No. 8 would earn a first-round bye and play their second-round game at home.

The current College Football Playoff Field has 12 teams, and that format began in 2024. Before the 2024 season, the College Football Playoff field had four teams, which began in 2014.