From ESPN:

SAN JOSE, Calif. — There will be no immediate changes to the four-team format of the College Football Playoff, as university presidents and conference commissioners decided at a joint annual meeting on Monday morning at the Fairmont Hotel that they were in "unanimous agreement that the playoff has been a tremendous success."

"As far as expanding the number of teams in the playoff, it's way too soon — much too soon — to know if that is even a possibility," Mississippi Statepresident Mark Keenum, chair of the playoff board of managers, said in a prepared statement.

"It's fair to say the speculation about expansion has outdistanced the reality of what the commissioners and the presidents have discussed. If a decision were to be made down the road, the presidents would be the ones to make it and we are not there."

http://www.espn.com/college-football/story/_/id/25707911/college-football-playoff-board-says-way-too-soon-consider-expansion

https://www.cbssports.com/college-football/news/college-football-playoff-brass-declare-it-way-too-soon-to-discuss-expansion-of-the-field/