Key points: "The championship game will be managed by the conferences and will not be
branded as a bowl game."
"The presidents also announced the creation of a selection committee that will rank the teams to play in the playoff, "giving all the teams an equal opportunity to participate." The committee will consider win-loss record, strength of schedule, head-to-head results and whether a team is a conference champion."
"There will be three contract bowls -- the Champions Bowl, which is a partnership between the Big 12 and SEC, the Rose Bowl, which has a longstanding tradition between the Big Ten and Pac 12, and a bowl to be determined for the ACC, which is likely to continue its partnership with the Orange Bowl."
"Tuesday's decision possibly could squeeze the Big East out of the postseason, as its champion is no longer guaranteed a spot in one of the six major bowls."
"Also not involved in the automatic postseason picture is the Mountain West Conference, which did not receive a waiver to automatically qualify for the next two years."
There are so many implications about the future...it is hard to know where to start.
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