And the revenue from the new deal, set to begin in 2014, will reportedly be split based on league's past performances based on Top 25 finishes.
That should prove a bonanza for the top four conferences - the Southeastern, Big Ten, Pac-12 and Big 12 - as well as the ACC.
Estimates have each of those five leagues earning in the neighborhood of $50 million per year. As the Big 12 stands, that's an appetizing $5 million slice of pie for each league team.
Not only that, more will be earned by conferences that qualify teams in the semifinals. The Big 12 will certainly do that on a regular basis.
It's expected to create a wider chasm between the haves and the have-nots of college football. WVU is with the haves. Conferences like the Big East, no longer considered elite, and Marshall's Conference USA might make more money, but the percentage of increase won't be close to that of the power leagues.
Keep in mind WVU won't receive a full share of Big 12 revenue until the 2015-16 school year. But that's only a year after the new playoff deal is set to begin.
In other words, it was a sound financial move for WVU to move as quickly as possible into the Big 12. The school will recoup the money lost exiting the Big East in record time.
And the new playoff deal will certainly help.
Reach Mitch Vingle at 304-348-4827, mitchvin...@wvgazette.com or follow him at twitter.com/MitchVingle.