SMU's College Football Playoff status

The SMU Mustangs are headed to the ACC championship game in their first year in the Power Five conference. 

Why it matters: The Mustangs are No. 9 in the College Football Playoff rankings, the highest the school has ever been ranked. 

• They now have a chance at vying for a shot at the national title. 

The big picture: The playoffs will have a 12-team format for the first time since the CFP was introduced in 2014. 

• The five highest-ranked conference champions will automatically be in the playoffs. The top four of that group will be seeded Nos. 1-4 and will have a first-round bye.

How it works: Teams Nos. 5 -12 will play each other in a bracket-style Round 1 on Dec. 20-21.

• The winners will go on to play the four conference champions in the quarterfinals on New Year's Eve and New Year's Day.

The latest: SMU crushed the California Golden Bears on Saturday. The 38-6 win made SMU the only team in the ACC to win all of their conference games this season.

Catch up fast: SMU moved its way up the college playoff rankings in November. 

• The team had only been ranked three other times before this season and had never moved into the Top 20. 

What's next: The next rankings will be released tomorrow. 

• The final will be released Sunday.