The Grandaddy of Them All has reportedly acquiesced, and college football is another step closer to expanding the College Football Playoff field.

That is according to multiple reports Wednesday evening. ESPN was the first to report the news, which was also reported by The Athletic and others.

The Rose Bowl has long been viewed and reported as the largest hurdle that needed to be cleared for the CFP to expand. The NCAA announced in September that the College Football Playoff field would increase to 12 teams no later than 2026. Expansion before that was only possible with agreements from many parties, including those in charge of the most prominent bowl games, most notably the Rose Bowl.

Expanding to 12 teams in 2024 has been the target date for expansion for at least a full year.

The current College Football Playoff format includes four teams. That contract was set to expire at the conclusion of the 2025 college football season.

According to ESPN, nearly $450 million in revenue was at stake over the final two years of the deal.

Under a 12-team playoff format, the six highest-rated FBS champions will be guaranteed a spot in the playoff. The remaining six spots will be awarded to the best at-large teams. The top four seeds will receive first-round byes, and teams seeded fifth through eighth will host on-campus games in the first round. All remaining rounds will be played at bowl sites.

The top four seeds will be reserved for the four highest-ranking conference champions. Guaranteed CFP spots for six conference champs ensure that all Power 5 conferences will be represented, and at least one Group of 5 conference team will be in, as well.

According to Wednesday night’s reports, a formal announcement of the expansion to a 12-team playoff beginning in 2024 is “expected to be imminent.”

To date, Oklahoma is the only program from the Big 12 that has played in the College Football Playoff. TCU is a win in the Big 12 Championship game on Saturday from being the second team in the league to qualify for the CFP.

The Big 12 has been represented in four of the eight years in the current College Football Playoff format, which was implemented in 2014.