You can click on the video if you want more details, but here are some of the key changes Klatt would implement: 
- 14-team playoff (bye weeks for Big Ten Champ and SEC Champ)

- 4 Auto Bids for Big Ten and SEC each (8 teams)

- 2 Auto Bids for ACC and Big 12 each (4 teams)

- 2 additional auto bids for the top 2 remaining at-large teams. ND would fall into this category since they aren't in a conference.

- Big Ten and SEC Champs are guaranteed the 1 and 2 seeds. Seeds 3-14 would be ranked accordingly by computers and committee members (more info below on how the remaining teams would qualify).

- 1st Round Games AND Quarterfinal Games on campus with the higher seed rewarded a home game

- Re-seed after the first round so that the 1st seed would get the lowest seed that advances. This would guarantee that the highest seed gets the easiest matchup to avoid a scenario like this year with Oregon being punished for going 13-0.

- Semi-final games would likely have to be on neutral sites. 

- Rose Bowl as the National Championship Game every year on January 1st (Jan 2, I suppose, if Jan 1 is a Sunday).

Here is another very interesting policy change Klatt proposed that I've seen floating around.

Qualifying Week (This would take place on Conference Championship week):

- Big Ten Championship: 2 seed in Big Ten vs. 1 seed in Big Ten (Both teams participating would automatically qualify for the CFP regardless of the outcome. However, there would be more incentive to win the game due to the format changes listed above, including a guaranteed home game in the quarterfinal and an easier opponent. 

- SEC Championship: 2 seed in SEC vs. 1 seed in SEC (Just like the Big Ten, both teams qualify for the CFP regardless of the outcome)

- Here's the kicker. The 3 seed and 4 seed in the Big Ten and SEC wouldn't just qualify automatically for the CFP and get rewarded with an extra week of rest. These teams would have to play a game as well to qualify for the CFP. In all of these matchups, the loser of this game would be eliminated from the CFP. The winner would earn one of the automatic bids.

- Big Ten: 6 seed in Big Ten at 3 seed in Big Ten—He didn't say this, but I assume the higher seed would be playing on their home turf in these qualifying matchups.

- Big Ten: 5 seed in Big Ten at 4 seed in Big Ten 

- SEC: Same format as Big Ten (5 at 4, 6 at 3)

- For the ACC and Big 12, rather than having conference championship games with little meaning since both teams would have already clinched a playoff spot, Klatt proposes having qualifying games for these conferences as well. The winner would receive an auto bid, and the loser would be eliminated.

- ACC: 4 seed at 1 seed, 3 seed at 2 seed

Big 12: Same format as ACC

- Klatt didn't discuss the remaining G5 conferences, but I assume their conference championship week would continue operating the same way with traditional conference championship games for those conferences.

How this would have looked this season:

Qualifying week:

Big Ten:

- Big Ten: Penn State vs. Oregon (both teams guaranteed a CFP spot), Illinois at Ohio State (4 vs. 5), Iowa at Indiana (3 vs. 6)

**NOTE: For the SEC, there were so many 3-loss teams tied with each other that I'm not completely sure what the qualifying matchups would have been.

- SEC: Texas vs. Georgia (both teams guaranteed a CFP spot), LSU at Alabama (4 vs. 5), Ole Miss at Tennessee (3 vs. 6)

- ACC: Miami at Clemson (2 vs. 3), Syracuse at SMU (1 vs. 4)

- Big 12: BYU at Iowa State (2 vs. 3), Colorado at Arizona State (1 vs. 4)

My thoughts. Please let me know your thoughts below and how realistic you believe these changes are:

While many people on here likely won't like auto bids for individual conferences, it removes a lot of the subjectiveness that becomes a factor late in the season. Also, in order for the commissioners of the larger conferences to reach any sort of agreement with the commissioners of the smaller conferences, they will likely use their leverage to ensure that they receive a certain number of teams in the CFP every year. While I don't think this is necessarily the most fair option, I think this is what will likely happen.

As far as the top 2 seeds only being from the SEC and Big Ten, these are clearly the 2 best (and most powerful) conferences in CFB today. I believe the commissioners of those two conferences will use their leverage to ensure this happens if the playoff expands to 14 teams.

The qualifying weekend would also remove subjectivity since teams would be playing for spots in the CFP. This would also ensure that Big Ten and SEC teams who lose their conference championship game aren't punished by playing an extra game because other teams would have to play the same number of games in order to qualify. The qualifying week sounds like a CFB superfan's biggest dream, as it is likely the closest we would ever get as fans to seeing a March Madness-style weekend in college football. Also, this would provide much more incentive to the teams in the middle of the conference standings since they would still be playing for a CFP spot.

I personally like the idea of a qualifying weekend for the Big Ten and SEC. My only concern would be a rare scenario where a deserving one-loss team (or maybe even an undefeated team in the case of a 3-way tie between unbeaten teams) would get stuck playing a qualifying matchup and get left out of the CFP due to an upset. However, I think the upside is worth taking this chance. Also, if you want to be guaranteed a playoff spot, make sure you're in the top 2 of your conference. 

For the ACC and Big 12, the concept of a qualifying weekend also sounds exciting, especially since there was no clear top team this year in the Big 12. However, in a hypothetical scenario, what if a team goes undefeated and happens to get upset by a team with as many as 4-5 losses? This seems unfair to me. Although I understand the concept, I'm not sure if I like Klatt's proposal for these two conferences. Perhaps reward the #1 seed in the conference with an auto bid and have the 3 seed play on the road against the 2 seed for the final qualifying spot in those conferences. 

I absolutely love the idea, whether the playoff expands beyond 12 teams or not, of having home games in the quarterfinals and reseeding after the first round. The current format doesn't provide much incentive at all for winning your conference. Although Ohio State was clearly the better team, Oregon still got completely ripped off this year for going 13-0 while Penn State got a much easier draw for losing in the conference championship game. Oregon, or any other team that wins the SEC or Big Ten in any given year, should've been rewarded for their efforts by receiving a bye week, a home game, and an easier opponent in the quarterfinal compared to teams that didn't win their conference.

As far as the National Championship being the Rose Bowl every season, I don't agree with this at all. While I think the Rose Bowl is a great venue, having Pasadena, California, serve as the location for every single National Championship Game would serve as an unfair advantage to teams on the west coast. Also, this doesn't seem fair to the other bowl venues either.

Additionally, ending the season by January 1st every season seems like an awfully difficult task. The season would almost certainly have to start one week earlier, perhaps even two weeks earlier. I don't know if this is a viable option. Also, I really don't see a huge problem in ending the season in late January like we have today. The length of the college football season for teams that qualify for the National Championship is approximately the same length—slightly shorter, I believe—of the college basketball season, which seems reasonable to me.

Final thoughts:

I know this is peak offseason talk, but I figured it wouldn't hurt to start discussing this now. I wonder if anyone has any insight on how realistic some of these changes would be and when we will hear any word from the conference commissioners (and ND's AD) on when new changes will be implemented. I think it is obvious to everyone after watching this year's playoff that the format is broken. At the very least, the top 4 conference champions shouldn't receive bye weeks. I also believe the quarterfinal matchups should be home games for the higher seeds as well.

Thank you to all of you who read this entire write-up. It took me a long time, but I find the topic very interesting as a college football fan and an Ohio State fan.