WASHINGTON - The campaign toward a major college football playoff has paid off, it appears.

Conference commissioners met with a committee of university presidents and chancellors in Washington on Tuesday which approved a four-team national playoff plan, USA Today reports.

The playoff will consist of two semifinal games in bowls and a national championship game that will be up for bid.

The presentation by commissioners took 30 minutes, after which the presidents offered questions and eventually deliberated about three hours before announcing they had approved the plan.

"A four-team playoff doesn't go to far," said Virginia Tech president Charles Steger, chair of the presidential oversight committee. "It goes just the right amount."

The 14-year reign of the Bowl Championship Series— and the persistent criticism that accompanied it - is finally near its end. The near deal will go for 12 years.

"This was timely, had to be done," former Big 12 acting commissioner Chuck Neinas said before Tuesday's meetings began. "(It was in) response to the public, response to the interest in college football. The BCS has done a great deal in helping promote college football, and there's a general feeling we need to do something better to determine a national champion."