Nine Football Bowl Subdivision conferences and Notre Dame agreed Friday to a new contract with ESPN that begins in 2026 and outlines revenue distribution and protections related to a future College Football Playoff, according to reports.

Friday’s memorandums of understanding guarantee the new playoff will have at least 12 teams, with the champions of the ACC, Big Ten, SEC, Big 12 and the highest-ranked Group of Five champion earning automatic playoff berths, according to Yahoo Sports. Notre Dame can earn an at-large spot based on its CFP ranking, though that guarantee is dependent upon the number of automatic qualifiers in the finalized format.

The Big Ten and SEC, whose teams have had the greatest success in the playoff’s 10-year history, have distanced themselves from other conferences through increased revenue streams and recent expansion. Friday’s deal guarantees at least five conferences will have annual access to the playoff through 2031, though the Big Ten and SEC will exercise significant control over the final playoff format.

While the exact format is expected to be finalized at a later date, there remains a “strong preference” for a 14-team field, per ESPN.

The TV contract with ESPN is a six-year extension through the 2031 season that will see the network pay the CFP around $1.3 billion annually. That figure is around triple what the network distributed for its four-team playoff.

The CFP could not complete that media rights deal without the conferences and Notre Dame first agreeing to participate in the playoff and coming to terms on a revenue-sharing plan. The Pac-12, which will function as a two-team conference featuring Washington State and Oregon State next season, did not sign the agreement Friday because of its uncertainty beyond next year.

For the most part, the five major conferences evenly split 80 percent of the CFP’s $460 million revenue under the previous CFP agreement with ESPN. The new revenue distribution model heavily favors the Big Ten and SEC, with each set to receive about 29 percent, per reports. The ACC will receive just over 17 percent and the Big 12 will get 14.7 percent of the CFP’s base distribution. One percent will be distributed to Notre Dame, and the 64 Group of Five teams are entitled to 9 percent.

Under the new agreement, annual distributions to Big Ten and SEC schools will grow from about $5.5 million to more than $21 million. The annual payments for ACC and Big 12 schools and Notre Dame will more than double. Group of Five schools will see a modest increase, from $1.5 million to $1.8 million.

The playoff was already set to expand to 12 teams for the next two seasons, through an arrangement that grants berths to the five highest-ranked conference champions and the next seven highest-ranked teams. Discussions around a 14-team playoff starting in 2026 are ongoing.

“We’re going to take a deep breath, step back, and begin those conversations whenever it’s appropriate,” CFP Executive Director Bill Hancock told the Associated Press of the potential timetable.