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College football rankings: Does FPI think Oklahoma can challenge Alabama?

No DeVonta Smith, no Mac Jones ... no problem.

Alabama lost plenty of talent to the NFL, but it's still the best team in college football and the national championship favorite, according to ESPN's Football Power Index (FPI) and the Allstate Playoff Predictor.

The Crimson Tide have a 31% chance to defend their title as national champions, substantially up from the 17% our model gave them at this time last season. Alabama also has a 76% chance to reach the College Football Playoff -- again, best of all teams -- and is a slight odds-on favorite to win the SEC at 51%.