Earlier today (February 18, 2022), College Football Playoff executive director, Bill Hancock, released a statement confirming the current four-team playoff model that has been in place since the 2014 season will continue until at least 2026 after months of debate around a proposed 12 team system came to an end.
Stipulations of the expanded playoffs included automatic bids for the six highest-ranked conference champions, with the four highest-ranked champions being awarded a first-round bye, plus the six next highest-ranked teams. The first round would have awarded the highest-ranked seeds a home-field game, while subsequent rounds would be hosted by pre-existing bowl games.