BCS conference commissioners emerged from a meeting in Chicago on Wednesday with a consensus on a seeded four-team college football playoff. (via Brett McMurphy's Twitter)
Big Ten commissioner Jim Delany said that the university presidents will decide from either the four-team playoff model or the plus one playoff model. Delany feels that the presidents will not take long in determining the matter. The commissioners will reportedly recommend that the "four best teams" be chosen by a selection committee (via CBS Sports). However, commissioners said nothing about how such a selection committee itself would be chosen.
The university presidents will meet in Washington, D.C. on June 26. They will decide on which of the the variations of the four-team playoff model to put into place. If approved by the university presidents, the college football playoff will begin for the 2014 college football season. The current BCS contract runs up until the 2014 season.