ESPN, College Football Playoff finalize 6-year extension averaging $1.3 billion annually

ESPN and the College Football Playoff have reportedly finalized their six-year extension through 2031, and it’s going to be a huge money-maker.

According to Ross Dellenger of Yahoo Sports, the agreement will pay $1.3B annually, and a formal announcement is expected to be released on Tuesday.

“ESPN & CFP have, as expected, finalized their agreement for a 6-year extension thru 2031 paying $1.3B avg annually. Formal announcement today,” Dellenger posted on X, formerly known as Twitter. “Conferences signed MOUs last week committing to TV deal/rev model/format protections, but the deal with ESPN had outstanding issues.”

Later in the afternoon, ESPN and the College Football Playoff formally announced the extension, “ensuring ESPN will continue as the exclusive, worldwide rightsholder to college football’s premier postseason event through the 2031-32 season,” the announcement read.

Continuing, Dellenger elaborated on what the deal features as a whole, including how each conference will share the revenue from the updated College Football Playoff deal.

“As reported, deal features: Revenue: 58% SEC/B1G; 32% ACC/B12; 9% G5; 1% ND. Format: No finalized model but protections for AQs for P4 champs + best G5 + ND guarantee via ranking. Voting: SEC/B1G heavy authority over format. Look-in provision in 2028,” Dellenger added.

Moreover, Dellenger added that an official format wouldn’t be finalized until a later date, but expect a 12 or 14 team Playoff to be a part of the future of college football.

“A playoff format is not expected to be finalized until a later date, though protections and guarantees related to a 12- or 14-team format are part of the agreement. The champions of the four major conferences and the highest ranked Group of Five champion will earn an automatic qualifying spot into any playoff,” Dellenger added. “Notre Dame is expected to have its own protections related to a format. The Irish can earn a guaranteed at-large spot based on their CFP ranking. That guarantee is contingent, however, on the number of automatic qualifiers in a finalized format.

“How to distribute the money was an intense and at times contentious process among conference commissioners — a debate that started in earnest about six weeks ago.”

Alas, it’s evident there’s a myriad of changes coming to the College Football Playoff, as the system looks to reflect the new realignment in college football as a whole. Moving forward, there’s bound to be more differences, but the decision makers are in agreement for now on how to move forward.

More on ESPN, College Football Playoff Extension

Continuing, ESPN Chairman Jimmy Pitaro couldn’t be happier to see the College Football Playoff remain with ESPN throughout their expansion era.

“ESPN has worked very closely with the College Football Playoff over the past decade to build one of the most prominent events in American sports. We look forward to enhancing our valued relationship over the next two years, and then continuing it for six more as we embark on this new, expanded playoff era,” said Jimmy Pitaro, via the press release. “This agreement further solidifies ESPN as the home of college football, as well as the destination for the vast majority of major college championships for the next eight years.”

Additionally, CFP Executive Director Bill Hancock echoed Pitaro’s sentiments, as the partnership will continue moving forward.

“We are delighted to continue our long-standing relationship with ESPN,” said Hancock. “It’s a significant day for the CFP and for the future of college football. The depth of coverage that ESPN gives to the sport throughout the season is second to none.

“There is no better platform to showcase this iconic championship as we move into the new 12-team format because ESPN’s people love college football every bit as much as we all do.”

We’ll see how it all shapes out, and if it’s a better product than what we’ve seen over the last couple of seasons, but one thing is for sure, the College Football Playoff will be looking brand new over the new couple of seasons.