Notre Dame and the 10 FBS conferences have agreed to the next College Football Playoff contract that will begin in 2026, according to ESPN's Heather Dinich and Pete Thamel.

As part of the agreement, the expected payouts for each conference under the next contract are expected to be massive, with the Big Ten and SEC benefitting the most from the new agreement.

SEC and Big Ten programs will make more than $21 million annually, which is "up from the nearly $5.5 million the Power Five leagues are currently being paid," according to ESPN.

Schools in the ACC will make more than $13 million per year, and Big 12 programs will make more than $12 million annually, ESPN added. Notre Dame, which competes as an independent, will also make more than $12 million per year.

Any independent program to reach the College Football Playoff will also receive a financial incentive, according to ESPN. Aside from Notre Dame, there are currently only three other schools that compete as independents—Army, UConn and UMass Amherst.

The Group of Five schools benefit the least from the contract and are expected to get a payout of just under $1.8 million, according to ESPN. They currently receive $1.5 million.

ESPN noted that American Athletic Conference commissioner Mike Aresco "was the most outspoken critic of the plan but wasn't able to garner enough support from other commissioners to fight it."

The AAC is part of the Group of Five.

While Aresco isn't happy with the agreement, the contract will be re-examined in 2028 to see if compensation for programs needs to be adjusted, according to ESPN. Any changes will be based on a conference's performance in the playoff, in addition to any further realignment that occurs.