In this setup, the five highest-ranked conference champions would receive automatic bids to the playoffs, with the remaining 7 spots going to at-large teams.
This is interesting, because until recently, there were six auto-bids, going to the six highest-rated conference champions - but that was when there was a Power 5, or P5. Now, with the demise of the Pac-12 (sorry, Oregon State and Washington State, two teams do not a conference make), it’s down to the P4.