College Football Playoff executive director Bill Hancock speaks to the media at the Southeastern Conference NCAA college football media days, Wednesday, July 16, 2014, in Hoover, Ala. (AP Photo/Butch Dill)

HOOVER, Ala. — The inaugural four-team College Football Playoff kicks off in January with four teams angling for spots in the first-ever CFP championship game.

College Football Playoff executive director Bill Hancock was at Southeastern Conference media days Wednesday to offer some details on how the system will crown a champion:

-- The College Football Playoff was created with a 12-year contract in place. Hancock said it cannot expand beyond four teams during those first 12 years, though many, including LSU coach Les Miles, expect it eventually will.

-- The CFP has a 13-member selection committee, which is chaired by Arkansas Athletic Director Jeff Long and also includes Archie Manning, Condoleezza Rice and former LSU assistant athletic director Dan Radakovich, now athletic director at Clemson. Members will serve two-, three- and four-year terms, eventually converting to three-year terms once a rotation is established.

-- The selection committee will meet in two-day sessions for the final seven weeks of the regular season at the CFP office in Irving, Texas. It will release a top 25 ranking each Tuesday, beginning Oct. 28. Committee members must be recused when a school from which they receive direct or deferred compensation is discussed.

-- The first two semifinals will be New Year’s Day 2015 in the Sugar and Rose bowls. The Cotton Bowl, one of the six CFP bowls, also will be contested that day.

-- The other three CFP bowls — the Orange, Fiesta and Peach — will be played Dec. 31.

-- The CFP national championship game will be Monday, Jan. 12 at AT&T Stadium in Arlington, Texas. Each subsequent championship game will be played on a Monday.

-- The 2016 and 2017 championship games have been set for Glendale, Arizona, and Tampa, Florida.

-- In January, the CFP will open the bidding process for the 2018, 2019 and possibly 2020 championship games. Those sites should be chosen by September 2015.

-- New Orleans is a likely candidate to bid for the 2019 and 2020 title games. The city could not host the 2018 game because it will host a CFP semifinal, the Sugar Bowl. The same is true for 2021.

-- Rematches and semifinal games between conference teams will be allowed. Unlike in the NCAA basketball tournament, teams will not be moved a seed line to avoid a rematch.