Those who support an expanded College Football Playoff can smile today, as the CFP management committee has announced that it will officially consider implementing a 12-team playoff format when its members meet in Chicago this coming week.

Some important notes regarding the proposal that the committee is considering:

• There would be automatic berths for the 6 highest ranking conference champions (which, in practice, would almost certainly be the each P5 champion and the highest ranked G5 champion), as well as an at-large bid for the next 6 highest ranked teams.
• There would be no limits upon the number of participants from any one conference (SEC fans rejoice).
• The four highest-ranked conference champions would be seeded 1-4 and receive a first-round bye, while teams 5-12 would play each other in the first round on the home field of the higher-ranked team.
• The quarterfinals and semifinals would be played in bowl games, and the national championship game would remain at a neutral site.

While this is important step towards an expanded playoff, it's important to note that this is just the first step in a long process. If the CFP management committee is able to reach a consensus agreement regarding the proposal, they will present the plan to the 11 presidents and chancellors who make up the CFP's board of managers at a meeting on June 22. If the CFP board of managers does indeed approve the plan, then they would spend the next few months deciding how and when to implement it. Regarding that, CFP executive director Bill Hancock has said the playoff will not expand this year or next, and the current 12-year agreement runs through the 2025-26 season.