According to people familiar with the BCS discussions

Among the details left to be determined: when and where two semifinals and a national championship game will be played; how the four teams will be selected; what will become of the existing BCS bowl games; and how the conferences will divide as much as $400 million to $500 million in annual TV revenue.

"Some of the details have to be worked out," Swofford said. "I think we can get there on most of it."

According to people familiar with the BCS discussions, the commissioners are leaning toward incorporating the semifinals into the existing BCS bowl games (Fiesta, Orange, Rose and Sugar). At this point, according to sources, the commissioners are leaning toward having predetermined semifinal sites -- which would be designated before a particular season begins -- and rotating them among the BCS bowls.