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WikipediaThe College Football Playoff (CFP) is an annual postseason knockout invitational tournament to determine a national champion for the National Collegiate Athletic Association (NCAA) Division I Football Bowl Subdivision (FBS), the highest level of college football competition in the United States. Four teams play in two semifinal games, and the winner of each semifinal advances to the College Football Playoff National Championship game.The inaugural tournament was held at the end of the 2014 NCAA Division I FBS football season which was won by the Ohio State Buckeyes, who defeated the Oregon Ducks in the championship game. After the first season, the playoff has been dominated by two teams, the Alabama Crimson Tide and the Clemson Tigers; one of the two has won every playoff except the first, and in three of the last four years, they have played each other in the championship game; in one other year they met in the semifinals.
https://en.wikipedia.org/wiki/College_Football_Playoff#Selection_committee