To keep the season meaning a lot you only take conference champions into the playoff and have computer rankings determine the at large teams (With Oklahoma still ranked we see that humans can't rank teams objectively). A 16 team playoff starting the first weekend of December with winners playing every two weeks until a champion is crowned in Mid January.
Aren't their eleven conferences? So that leave five at large teams. Make every conference bulk up to at minimum twelve members with a conference championship game so the road the the championship is even.
All other bowl eligible teams can still play the low paying bowl games scattered throughout the month. We all watch college football all the time so they still would be watched. Sure someone will always be left out but if you didn't win your conference then you don't have much to complain about. The schedule will allow teams to play rivals and a strong out of conference schedule without penalty.
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