Earlier today the College Football Playoff Board of Managers met to discuss the expansion of the playoffs as early as 2024. It has been released by multiple sources that the board has agreed to a 12-team expansion following the end of its current contract in 2026.
ESPN analyst, Pete Thamel broke the news on Twitter this afternoon:
https://twitter.com/PeteThamel/status/1565776097274236928
THE 12-TEAM PLAYOFF EXPANSION FORMAT
Throughout the year discussions have taken place on expansion, however, disagreements regarding automatic bids halted progression until now. According to reports, the original 12-team model, proposed several months ago, was agreed upon. This includes the six highest-ranked conference champions, & six at-large programs.
In addition, the current detail is that the new format will take place in 2026. However, it is possible that it can be implemented as soon as 2024 according to additional reports. However, details are still blurry and will be decided on later this month with the ten FBS conference commissioners & Notre Dame.