The Bowl Championship Series will be replaced by the College Football Playoff, and the first championship game will be played in Cowboys Stadium, according to ESPN Dallas.
ESPN Dallas reported Tuesday that its sources said the game would be played Jan. 12, 2015. Earlier Tuesday, BCS conference commissioners announced the name of the new postseason system that starts in 2014.
The Cotton Bowl will also be one of the six bowls in the rotation for the playoff, ESPN Dallas reported.
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Premiere Sports Management in Overland Park, Kan., was hired to help come up with a name and brand the new system. A committee of commissioners handled the naming of the new system. Hancock said they ran through "in the neighborhood of three dozen" names.
"We're clearly trying to make a clear break from the BCS," Pac-12 Commissioner Larry Scott said.
BCS executive director Bill Hancock, who will hold the same position in the playoff system, said a short news conference that the new name is "really simple" and "gets right to the point."
"Nothing cute. Nothing fancy. We decided it would be best to call it what it is," he said.
The new postseason format will create two national semifinals to be played New Year's Eve or New Year's Day, with the winners advancing. The six bowls in the playoff rotation will host marquee, BCS-type games on New Year's Eve or New Year's Day during the seasons they do not host a semifinal.
Three semifinal spots were already decided: the Rose, Orange and Sugar bowls. ESPN Dallas reported Tuesday that the Cotton, Fiesta and Chick-fil-A bowls would join them.
Those decisions officially will be announced Wednesday, The Associated Press reported.
On Tuesday, the coaches on the Big 12's spring teleconference were already talking about the Cotton Bowl having a spot in the rotation as if it was a done deal.
"I think it's really exciting for this region, for everybody, and I think all of the schools in this region," Oklahoma coach Bob Stoops said. "To have Dallas as one of those sites is great for everybody in this region, and exciting for everybody. Obviously, everybody knows what a great and quality, what an awesome stadium it is. Then, the location for us is an advantage, or should be."
The first semifinals will be played at the Rose and Sugar bowls.