ESPN and the College Football Playoff (CFP) have reached a finalized agreement, granting the network exclusive rights to air the CFP games through the 2031-32 season. Although the financial terms of the deal were not disclosed, it is reported to be a six-year extension worth an average of $1.3 billion annually, as per The Athletic's previous report.

The agreement includes the addition of four new first-round games in the expanded 12-team format, which is set to begin this season. The extension will officially commence in the 2026-27 season. Additionally, ESPN announced that it will move the national championship game to ABC starting from the same season.

Part of the deal allows ESPN to sublicense a select number of games to other networks, potentially including Fox, NBC, and CBS. Beginning in 2026-27, there is also a commitment to air at least one game per round on an over-the-air network.

This six-year extension marks a significant increase from ESPN's original 12-year deal, which averaged $608 million annually and included New Year's Six bowls, CFP semifinals, and national championship games. Under the new format, four of the bowls will become quarterfinal Playoff games, rotating two other bowls to host the semifinals.

The negotiation process involved the CFP meeting with several potential media partners, but no other network made a bid for the games. ESPN chairman Jimmy Pitaro expressed excitement about enhancing the relationship with the CFP in the coming years.

While the terms of the ESPN deal were set for some time, it faced delays in receiving approval from the nine continuing FBS conferences and Notre Dame due to uncertainties regarding the future structure of the event. However, last Friday, the conferences and Notre Dame signed off on a basic framework that includes uneven revenue distribution among the major conferences.

According to sources familiar with the model, the Big Ten and SEC will receive more than $21 million per school, the ACC around $13 million each, and the Big 12 around $12 million each. Additionally, around $1.8 million will be distributed collectively to the Group of 5 conferences, with Notre Dame receiving over $12 million and the remainder going to independents and the Football Championship Subdivision.

The CFP's internal contract incorporates a look-in clause in 2028, offering the opportunity to potentially reshape the agreement based on performance or further conference realignment, according to sources familiar with the negotiations.

With this long-term agreement now in place, ESPN will continue to be the primary network for college football fans to enjoy the excitement of the College Football Playoff until the 2031-32 season.

- The Athletic's Andrew Marchand and Chris Vannini contributed reporting.

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