There might not be a new contract extension between the College Football Playoff and ESPN after all.

On Tuesday, Andrew Marchand, Nicole Auerbach, Stewart Mandel and Chris Vannini of The Athletic reported the CFP and ESPN agreed to a six-year, $7.8 billion extension that would keep the playoff games on the network through the 2031-32 campaign.

However, Ross Dellenger of Yahoo Sports reported Sunday that MAC commissioner Jon Steinbrecher, who is one of the 11-member CFP Management Committee members, sent a memo to his league administrators saying that such reports are "incorrect" and premature.

It should be noted The Athletic report explained that nothing has been finalized just because there was an agreement between ESPN and the CFP management committee. Rather, it was "contingent on CFP leaders finalizing details of the expanded format in the wake of the implosion of the Pac-12."

Steinbrecher's memo said the CFP management committee nor the board of managers have taken an official vote on such an agreement, which follows since any official ratification won't happen until the new 12-team CFP format is finalized.

It is a time of uncertainty and change in college football as a whole with the Pac-12 all but eliminated with USC, UCLA, Oregon and Washington going to the Big Ten, Stanford and California going to the ACC, and Arizona, Arizona State, Colorado and Utah going to the Big 12.

The SEC—which is adding Texas and Oklahoma—and Big Ten, which have largely separated themselves from the other leagues with their additions, also announced the creation of a joint advisory board to address future developments in the sport.

Dellenger noted both conferences "are expected to seek a bigger cut of the revenue pie as well as a governance structure that grants them more autonomy," which is notable with CFP commissioners set to meet Wednesday to discuss unresolved issues such as revenue distribution and format.

As Dellenger explained, the expectation is the 12-team CFP will take on a 5+7 format with the five highest-ranked conference champions and seven at-large bids making up the field.

While finalizing such a format was delayed by pushback from the Pac-12, more at-large spots wouldn't be a bad development for the league since it has only two schools in Oregon State and Washington State.

Conferences must have eight or more schools to be eligible for an automatic playoff berth.

ESPN's current contract with the CFP runs through the 2025 season.