A Power Two merger
The new 12-team playoff format is expected to guarantee at least three spots for teams outside of the Power Two. More can qualify, of course, but in the worst-case scenario, the Power Two could get nine of the twelve berths. The rest of the conferences could simply be an afterthought protected by formality.
Even in that scenario, there would still be a mighty competition between the SEC and the Big Ten to get the majority of spots.
It could occur to someone or some people that if the two conferences merge into a Super League, then the real championship of college football would be the conference championship of that combined league.
They could still send their teams to the CFP in an effort to be magnanimous, but everyone would know the real prize would be the Super League Championship.
I admit I think this option alone is probably one of the least likely options for a few reasons. For one, it’s a big conference, especially for operating under the jurisdiction of the NCAA.
Even if they didn’t add any more constituents beyond their 2024 membership, it would be a conference of 34 programs. Once a league gets to that size someone will inevitably realize that not all 34 of them are made equal.
I think other possibilities would prevail over this one.
Next: Life after the NCAA