A College Football Playoff-type system was proposed more than 50 years ago, before it debuted in the 2014 season.
Although the CFP has only been in place for 11 years, debuting as a four-team playoff in 2014 before increasing to 12 teams this past season, discussions of a playoff system were first discussed in 1975.
Fifty years ago, some called for a college football playoff system to decide the national champion, but Woody Hayes, among others, was against the idea.
From the Jan. 2, 1975 issue of The Lantern:

While many Ohio State students interviewed had mixed reviews about the voting system compared to a BCS system, compared to a playoff system to decide a national champion, Hayes thought a playoff system would hurt other bowl games.