Round 1 games would be hosted by the higher ranked seeds. Rounds 2 - 4 would incorporate the bowl system with host cities/bowls bidding to host the games. The "Big 4" BCS bowls would be permanent playoff hosts on a round-rotating basis (Championship, semi-finals and 1 round 2 game).
For the week of October 10, 2011:
1. LSU (SEC Champion)
2. Oklahoma (Big 12 Champion)
3. Alabama (At Large SEC)
4. Wisconsin (Big 10 Champion)
5. Boise State (Mountain West Champion)
6. Stanford (PAC 12 Champion)
7. Oklahoma State (At Large Big 12)
8. Clemson (ACC Champion)
9. Oregon (At Large PAC 12)
10. Arkansas (At Large SEC)
11. Michigan (At Large Big 10)
12. West Virginia (Big East Champion)
13. Houston (C-USA Champion)
14. Hawaii (WAC Champion)
15. Temple (MAC Champion)
16. Louisiana-Lafayette (Sun Belt Champion)
Dropped out: Texas (#10, At Large Big 12), Nevada (#14, WAC Champion), Ohio (#15, MAC Champion)
Number Of Teams by Conference:
SEC (3), PAC 12 (2), Big 10 (2), Big 12 (2), ACC (1), Big East (1), C-USA (1), MAC (1), Mountain West (1), Sun Belt (1), WAC (1), Independent (0)
Match ups round by round assuming higher seeds win.
Round 1
(16) Louisiana-Lafayette at (1) LSU
(9) Oregon at (8) Clemson
(12) West Virginia at (5) Boise State
(13) Houston at (4) Wisconsin
(11) Michigan at (6) Stanford
(14) Hawaii at (3) Alabama
(10) Arkansas at (7) Oklahoma State
(15) Temple at (2) Oklahoma
Round 2
(8) Clemson vs (1) LSU
(5) Boise State vs (4) Wisconsin
(6) Stanford vs (3) Alabama
(7) Oklahoma State vs (2) Oklahoma
Round 3
(4) Wisconsin vs (1) LSU
(3) Alabama vs (2) Oklahoma
Championship Game
(2) Oklahoma vs (1) LSU