The College Football Playoff field of 12 teams is set, following an ESPN reveal show Sunday that put to rest two main controversies: whether Alabama would remain in even after losing badly to Georgia in the SEC championship game (yes), and whether two-loss, independent Notre Dame would remain ranked above two-loss, non-champion Miami that beat Notre Dame during the season (no).
Alabama stayed in, Miami jumped Notre Dame, and BYU, Texas, and Vanderbilt remained on the outside looking in.
In the end, the bracket has:
- 5 SEC schools (Georgia, Ole Miss, Texas A&M, Oklahoma, Alabama)
- 3 Big Ten schools (Indiana, Ohio State, Oregon)
- 1 Big 12 school (Texas Tech)
- 1 ACC school (Miami)
- 1 American school (Tulane)
- 1 Sun Belt school (James Madison)
There’s at least $116 million in CFP prize payouts up for grabs for conferences, depending on how far their schools get. The payouts are as follows:
- Making the CFP: $4 million (12 teams)
- Advancing to the quarterfinals: $4 million (8 teams)
- Advancing to the semifinals: $6 million (4 teams)
- Advancing to the title game: $6 million (2 teams)
With five teams in the Playoff, the SEC is getting $20 million from the first round to distribute among its member schools. The Big Ten has $12 million coming its way.
The Big 12, ACC, American, and Sun Belt each get $4 million for their lone schools that made it in. It’s a modest windfall for the American and Sun Belt, two conferences that did not see any CFP prize money last year, as they didn’t get teams into the field.
In addition, a new wrinkle this year as part of the CFP’s straight seeding is that the four highest-ranked conference champions will earn a guaranteed $8 million for their conferences, whether or not they win their first-round game. Indiana, Georgia, and Texas Tech all have byes, so they will get $8 million anyway for making it to the second round; Tulane is the only school affected, so the American will get $8 million even if Tulane loses in the first round.
Each individual school in the Playoff also gets $3 million per round to cover expenses. Notre Dame is a major financial loser in this situation, given that it would have gotten to keep all CFP prize payouts for itself—while programs in conferences have to share payouts. Last year, the Fighting Irish racked up $20 million. But without a CFP bid this year, it won’t be afforded the opportunity.
