The BCS, which runs through the 2005 regular season and 2006 bowl season, consists of the FedEx Orange Bowl, Nokia Sugar Bowl, Rose Bowl and the Tostitos Fiesta Bowl. Conferences with automatic berths include the Atlantic Coast, Big East, Big Ten, Big 12, Pac-10 and the Southeastern Conferences.

The BCS also notes the importance of regional consideration regarding team selection. Specifically, as participating members of the BCS, the four BCS Bowls will host the following conference champions in the years the national championship game is not played at their site. Regional consideration tie-ins include the ACC or Big East champion in the FedEx Orange Bowl, the SEC champion in the Nokia Sugar Bowl, the Big Ten and the Pac-10 champion in the Rose Bowl and the Big 12 champion in the Tostitos Fiesta Bowl.

Should a BCS Bowl's regional tie-in champion be ranked number one or two in the final BCS standings, when such bowl is not hosting the national championship game, the number one or two-ranked team shall move to the national championship game and the Bowl shall select a replacement team from the BCS pool of eligible teams. The pool will consist of any Division I-A team that is ranked among the Top 12 in the final BCS standings or has achieved nine wins during the regular season excluding NCAA-exempted contests.

Through a conference revenue sharing plan, the BCS group will distribute over $40 million to non-participating BCS institutions during its 8-year history. Those monies go to Division I-A and I-AA conferences in support of the game of college football. Additionally, the BCS distributes $100,000 per year to the National Football Foundation and College Hall of Fame for calculating and administering the BCS Standings.