The College Football Playoff (CFP) committee has stated teams not playing in conference title games would not be penalized. That means the 12-team field is just about set. There are still a few CFP markets with odds at online sportsbooks: Whether Alabama and/or SMU will make the field and who will be the No.

This week, Brett McMurphy of The Action Network released some updated College Football Playoff and bowl game projections, and he slotted the Ole Miss Rebels in the AutoZone Liberty Bowl against the Kansas State Wildcats. According to the story, Ole Miss would be favored by 6.5 points in that hypothetical contest.

It's never too early to look ahead to the most wonderful time of the year for college football fans: bowl season. And this year, there's more to get excited about than ever with the expanded 12-team College Football Playoff.

Why Tennessee is rising, Miami is falling and Ohio State, Texas and Clemson are steady in the College Football Playoff race.

Ahead of Tuesday night's penultimate rankings release, Heather Dinich picks the CFP field of 12 and five teams on the bubble, then ranks the best of the Group of 5.