College football is preparing to kill off two of its biggest television attractions for a bigger playoff. Last year’s Big Ten Championship between Indiana and Ohio State drew 18.33 million viewers on Fox, while Georgia and Alabama’s SEC title clash brought in 15.75 million on ABC. Yet those massive audiences apparently aren’t enough to save conference championship games. With a 24-team playoff being discussed for 2027, ESPN and Fox could lose two of their most valuable broadcasts, all in the name of expansion. And now, the financial cost of that trade-off is coming to light.

“Sources: The average additional payment that ESPN will pay for the expanded college football playoff is $345 million annually the next five years, which is in addition to the average of $1.3 billion annually over that time ESPN is already paying,” ESPN’s college football senior writer, Pete Thamel wrote on X wrote on October 17.

The $345 million figure isn’t the whole picture. ESPN owns the rights to the SEC, ACC and Big 12 title games, and those would be canceled under the new format. Thamel explained how that offsets the bill.

“Of that new $345 million, ESPN will only essentially be paying $205 million, as they are getting back $140 million annually from the cancelation of the three power conference championship games that ESPN owns the television rights to broadcast,” Thamel posted.

Fox holds the Big Ten title game, so it is giving something up too. Thamel reported what the network would receive back.

“Per sources, the amount Fox is expected to get back for the cancellation of the Big Ten title game, which it owns the television rights to, is estimated in the $50 million range annually,” Thamel wrote.

Fox gets roughly $50 million a year in return, but it also loses one of its biggest broadcasts. Sportico pointed out that the end of the Big Ten and SEC title games may create a pinch on the ad sales side, since both had recently been posting big audiences.

The CFP and ESPN have reportedly reached a preliminary agreement, although a formal contract and several key details remain unresolved. ESPN’s existing six-year, $7.8 billion deal runs through the 2031-32 season, with the proposed 24-team format set to begin in 2027.

The CFP said talks are ongoing. “Constructive discussions with ESPN continued this week,” its statement read. “We will provide additional updates on the matters of future format and media rights when appropriate.”

CBS Sports called losing the title games a “necessary sacrifice” for expansion. Part of the push is money: Yahoo’s Dan Wolken wrote that schools feel pressure to justify spending $30 million to $40 million on rosters, and more playoff spots help make that case. OutKick’s Trey Wallace argued the whole thing comes down to cash.

The format being discussed gives automatic bids to the Power Four champions and the top Group of Six team, with the other 19 spots picked by a committee. The first two rounds would be played on campuses, and the top eight teams would get a first-round bye. Big Ten commissioner Tony Petitti has said the bye, home-field advantage and the race for a top-24 spot would give more teams something to play for in November.

Until the agreement and format are finalized, the exact financial consequences remain uncertain. What is clear is that a 24-team playoff would require college football to reconsider not only who gets to compete for a national championship, but also which games remain central to the sport’s calendar.