The College Football Playoff (CFP) is an annual knockout invitational tournament to determine a national champion for the National Collegiate Athletic Association (NCAA) Division I Football Bowl Subdivision (FBS), the highest level of college football competition in the United States. It culminates in the College Football Playoff National Championship game. The inaugural tournament was held at the end of the 2014 NCAA Division I FBS football season under a four-team format. The CFP Board of Managers voted in 2023 to expand the playoff to 12 teams beginning in 2024, an arrangement that will last at least through the end of the 2025 season. After 2025, the current contract between all major entities expires and a new contract will be drawn up, with indications that additional expansion to a 14-team playoff or larger may take place at that time.