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Breaking: Decision Reportedly Reached On College Football Playoff Expansion

Joe Burrow, the No. 1 pick in the 2020 NFL Draft and LSU football celebrates winning the college football playoff national title.

NEW ORLEANS, LOUISIANA - JANUARY 13: Joe Burrow of the LSU Tigers raises the National Championship Trophy with Ed Orgeron, Grant Delpit #7, and Patrick Queen #8 after the College Football Playoff National Championship game at the Mercedes Benz Superdome on January 13, 2020 in New Orleans, Louisiana. The LSU Tigers topped the Clemson Tigers, 42-25. (Photo by Alika Jenner/Getty Images)

It finally happened: the College Football Playoff Board of Managers approved expansion of the current College Football Playoff model.

In a meeting on Friday afternoon, the Board of Managers reportedly all agreed that expansion is a must. According to multiple reports, the playoff will be expanded to 12 teams by 2026 at the latest.

"CFP presidents have unanimously approved to expand the College Football Playoff to 12 teams," Sports Illustrated insider Ross Dellenger reported.

"The date of implementation (2024 or 25 or 26) is being left for commissioners to determine, as well as details of the format."

Expansion has been a long-talked about endeavor in college football over the past few years. Now instead of four teams vying for the title every year, there will be 12 with the chance to hoist the trophy.

Will this help in varying the teams that actually win the title or will the same teams just keep on winning?

We'll find out in a few years.