A six-bowl, four-team college playoff has been approved that would give automatic access to the highest rated "Group of Five" team, CBSSports.com has confirmed.
The BCS Presidential Oversight Committee approved the structure in a brief meeting here on Monday. ESPN.com first reported the structure.
The Group of Five is the so-called non-BCS schools (Mountain West, Big East, MAC, Sun Belt, Conference USA) that were seeking a guaranteed spot in the system. The highest-ranked of those teams beginning in 2014 will play in what will probably be one of the three access -- or open -- bowls. Those bowls are still to be determined. The ACC, Big Ten, Big 12, Pac-12 and SEC already have automatic access to the new system.
CBSSports.com has also learned that 10 percent of the approximate $475 million annual value of the playoff will go into a pot to be distributed to schools for academic enhancement. ESPN valued the playoff, beginning at 2014, at close to $500 million. Negotiations are ongoing for the rights to the playoff.