BREAKING: Major changes coming in the College Football playoffs.

The Rose Bowl has signed an agreement with the College Football Playoff that paves the way for the event to expand to 12 teams starting in 2024, sources confirm to CBS Sports. The CFP had given the Rose Bowl until the end of the week -- at the latest -- to agree to terms the bowl had thus far been unwilling to accept.

With the Rose Bowl now in the fold, a formal announcement of a 12-team playoff being held in 2024 and 2025 has been announced by the NCAA.

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