Am I the only one that was WTF when this came out because I thought the Champions Bowl was supposed to be its own thing?
Yeah. They've been saying for awhile that the Champions Bowl was just a holding name and it would branded/ran an one of the other bowls. However, there still is a "eff you" element to it, I think. The details haven't come out, but the talk before was that isn't going to be the same old Sugar Bowl. The TV rights are going to be with the conferences, not the bowl. The contracts between the conferences and the bowl are going to be completely different from before. It's no longer going to be "We agree to supply a team to your bowl and you are going to pay us". It's now going to be more "We have a TV contract for a game, but we are going to play the game in your city, under the brand of the "Sugar Bowl", and you are going to administer the game."
It's basically the confernces outsourcing the running of their bowl to the Sugar Bowl.