The format (this is the way cbssports would do it)
The top six conference champions get automatic bids to the playoff with the top four getting byes into the quarterfinals. The top four seeds that get byes and the rest of the field is seeded based on the final CFP poll. The first round is played on campus at the higher seed’s stadium and the quarterfinals are played at bowl sites. The CFP semis and championship would be played the same as it is normally played.
Bracket:
First Round (December 18, 2021)
Oxford
8.Ole Miss
9.Oklahoma State
Athens
5.Georgia
12.Pittsburgh
South Bend
6.Notre Dame
11.Utah
Columbus
7.Ohio State
10.Michigan State
Quarterfinals (December 23-December 24, 2021)
1.Alabama
8.Ole Miss/9.Oklahoma State
4.Baylor
5.Georgia/12.Pittsburgh
3.Cincinnati
6.Notre Dame/11.Utah
2.Michigan
7.Ohio State/10.Michigan State
Semifinals (December 31, 2021)
Cotton Bowl
TBD vs. TBD
Orange Bowl
TBD vs. TBD
National Championship (January 10, 2021)
TBD vs. TBD