The participating teams in the College Football Playoff National Championship are determined by two semifinal games, hosted by an annual rotation of bowls commonly known as the New Year's Six.

The game is played at a neutral site, determined through bids by prospective host cities (similar to the NCAA Final Four).

[3] The winner of the game is awarded the College Football Playoff National Championship Trophy, which is sponsored by Dr Pepper.

[5] The inaugural game was held at AT&T Stadium in Arlington, Texas, on January 12, 2015, and was won by Ohio State.

[6] A top-ranked team did not win the College Football Playoff National Championship until LSU won the sixth edition of the game, in January 2020.

The stadium restriction would limit the bidding to most cities with a National Football League franchise, since all but four of the stadiums in the league meet the capacity requirements, and in practice all National Championship venues chosen for up to and including the 2026 game are also home to at least one NFL franchise.