Cowboys Stadium in Arlington, Texas, will be the site of the first College Football Playoff championship game on Jan. 12, 2015.
Tampa, Fla., the only other bidder for the inaugural title game, reportedly made a strong presentation and lost out in a close call.
The final three sites for the semifinal rotation also were announced and Cowboys Stadium came up a winner again.
The Rose, Orange and Sugar bowls are already part of the semifinal rotation. The Rose and Sugar will host the first semifinals Jan. 1, 2015.
BCS commissioners also revealed the final three bowl sites for the semifinal rotation. According to CBSSports.com the Cotton Bowl, which is played at the $1.2 billion home of the NFL's Dallas Cowboys, will be part of the six-bowl rotation, along with the Chick-fil-A Bowl in Atlanta and the Fiesta Bowl in Glendale, Ariz.
The Holiday Bowl in San Diego also bid for a spot in the semifinal rotation, but was not selected.
The Rose, Orange and Sugar bowls previously were selected to be in the six-bowl semifinal rotation. The first semifinal games in the new system that replaces the current BCS format will be played in the Rose and Sugar on Jan. 1, 2015.
The semifinal format will pit the No. 1 vs. the No. 4 seed and the No. 2 against the No. 3. The Orange and Cotton bowls will get the semis in 2016, followed by the Fiesta and Chick-fil-A in 2017, according to ESPN.
A committee of 14 to 20 members will determine the four qualifiers. The makeup of the committee has yet to be determined, but the commissioners were planning to discuss the process during their meetings this week.
-- The NCAA is considering doing away with a controversial procedure that grants teams a waiver to play in a bowl game.
According to CBSSports.com, the NCAA is proposing that six-win teams entering a conference championship games can qualify for a bowl game without a waiver.
In 2011, the NCAA passed a rule prohibiting bowls from picking a 6-7 team over an eligible 6-6 team. The NCAA's decision to grant a waiver and allow a team with a losing record in a bowl meant that a non-automatic qualifying team with a .500 record or better would be shut out.
UCLA and Georgia Tech filed a waiver in back-to-back years. The NCAA approved those waivers, but under the new system, schools won't need a waiver.
-- The Mountain West Conference has approached the Pac-12 about a West Coast college football partnership, MWC Commissioner Craig Thompson said on Wednesday.
According to Thompson, the alliance would involve nonconference scheduling, as well as the sharing of officials, and bowl matchups. The Mountain West and Pac-12 already share New Mexico and Las Vegas Bowl tie-ins, but an alliance would allow for both leagues to save on travel costs, according to CBS' Jeremy Fowler.
Thompson said there is no deal in place yet but the Pac-12 is open to the idea. The 24 combined teamed in the two conferenced make up most of the West Coast landscape of college football.