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BREAKING NEWS: 4 Team Playoff to determine BCS Championship now official!

The VERY IMPORTANT PEOPLE (and Notre Dame) met today to hear a proposal on a 4 team playoff in the BCS:

The proposal calls for two semifinals played at existing bowl sites on Dec. 31 or Jan. 1, with winners advancing to a title game to be played about 10 days later. The site of the championship game will be bid out the way the NFL does with the Super Bowl. The four teams will be chosen by a selection committee, similar to the way the NCAA basketball tournament field is set.

Who exactly will be on that committee has yet to be determined. The basketball committee has 10 members and is made up of conference commissioners and college athletic directors. Neinas said the football selection committee will probably need to be larger so anyone with ties to a conference or team being discussed can be recused.

Word has now emerged that this proposal has been approved:

Four team playoff is official.

We will have more on this in the future, but what are your thoughts on this?? Rich just getting richer?? Breath of fresh air? Tell us in the comments!