College Football Playoff rankings: Oregon, Ohio State on top; Indiana at No. 8

The first College Football Playoff rankings for the 2024 season were released Tuesday, and it's the Oregon Ducks who were named the No. 1 team in the initial set of rankings.

This is the first time in program history that Oregon has been ranked No. 1 in any edition of the CFP rankings since its conception back in 2014. The Ducks' highest ranking in a CFP reveal was back in 2014 when they were ranked No. 2 for five consecutive weeks.

Ohio State is ranked No. 2 in the first set of CFP rankings. Ryan Day's team is 7-1 on the season, with its lone loss coming against top-ranked Oregon back in Week 7. The Buckeyes are coming off an impressive top-five win over Penn State this past weekend on the road. Georgia, also sitting at 7-1 with wins over Clemson and Texas, is ranked No. 3 in the CFP rankings, while undefeated Miami and its Heisman Trophy hopeful QB Cam Ward sit at No. 4 in the rankings.

So, while it's Oregon, Georgia, Miami and BYU that will receive first-round byes in the projected bracket, my top takeaways from the committee's initial reveal center around the following programs: Colorado, Indiana and Ohio State.

With that, here are my top takeaways from the first set of CFP rankings:

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1. Colorado's path to the CFP has emerged after seeing its name among the selection committee's top 25 for the first time since 2016

The Buffs were ranked No. 20 in Tuesday's CFP reveal, one spot behind Kansas State (19) and three spots behind Iowa State (17).

With Iowa State and Kansas State taking losses to Texas Tech and Houston, respectively, Colorado (6-2) moved into a tie for second place in the Big 12 standings with the Cyclones. That means Deion Sanders' Buffs are not just bowl-eligible with a Heisman candidate leading the offense and defense in Travis Hunter, but they also find themselves on a path to the 12-team CFP.

With just one game left against a team with a winning record in Texas Tech (6-3) — Utah (4-4), Kansas (2-6) and Oklahoma State (3-6) — a win over the Red Raiders would be massive for the Buffs, who need Iowa State to lose to Kansas State on Nov. 30 and to win out in order to earn entry into the Big 12 title game.

If Colorado wins out, that would mark the first 10-win season the Buffs have secured since 2016 when they finished No. 10 in the Selection Sunday rankings — high enough to earn selection into a 12-team CFP in the four-team era.

2. Indiana is the most (un)likely CFP team, and it's not close

BYU has won a national title. BYU has enjoyed a Heisman Trophy winner. BYU won 11 games just four years ago.

Indiana has never won any of those things, and, in November, this program has a chance to win 10 games for the first time in school history and earn a chance to play for the national title for the first time in history.

The Hoosiers are 9-0 for the first time and have achieved their highest ranking in the CFP era at No. 8 after having previously peaked at No. 11 in the Selection Sunday 2020 rankings.

This Indiana team has won every game by 14 or more. In Big Ten play, they've won games by 29, 37 and 49 points. Two of those three wins have come on the road.

While both the AP and the College Football Playoff committee ranked the Hoosiers No. 8, I ranked this team at No. 6 in my latest College Football Playoff predictions because they have demonstrated they can play at the level Oregon and Ohio State have. Just look at a common opponent: Ohio State beat Michigan State 38-7. Oregon beat Michigan State 31-10. Indiana stomped a mud hole in Michigan State and walked it dry, 47-10.

Barring a disastrous loss for Indiana or Ohio State, that Nov. 23 matchup will define which of those programs is guaranteed selection come Dec. 4 when the CFP bracket is set.

3. Ohio State has the best seat at the CFP table

This is an opinion I've consistently voiced since the 12-team format was finalized. Think of it as the pinned comment on a YouTube channel or X page: The No. 5 seed is the best position in the CFP, and it's not close. And right now, that team sitting in the No. 5 spot in the bracket is the Buckeyes.

As the No. 5 seed, you're likely a conference title win away from the No. 1 or No. 2 seed, as we believe that team is likely to come out of the Big Ten or SEC. But even the conference champion would like to have the fifth seed, because that team gets to host the first home game in postseason history against the weakest team in the CFP field. With a win, the No. 5 seed then gets to play the weakest of the four highest-ranked conference champions.

That means, in this scenario, Ohio State would host Boise State at the Shoe. Then, the Buckeyes would play BYU at a neutral site. While the Cougars would have a bye, most believe Ohio State is the better team as the runner-up in one of the two super conferences. With a win, the Buckeyes would finally fight in their weight class, potentially setting up a matchup against Big Ten foe and No. 1-ranked Oregon. That game would also be played at a neutral site, without the Ducks getting the benefit of a week's rest.

Play for the No. 5 seed.

Here is a look at the first set of CFP rankings for the 2024 college football season:

1. Oregon
2. Ohio State
3. Georgia
4. Miami (Fla.)
5. Texas
6. Penn State
7. Tennessee
8. Indiana
9. BYU
10. Notre Dame
11. Alabama
12. Boise State
13. SMU
14. Texas A&M
15. LSU
16. Ole Miss
17. Iowa State
18. Pitt
19. Kansas State
20. Colorado
21. Washington State
22. Louisville
23. Clemson
24. Missouri
25. Army

Now that the first set of CFP rankings are live, here is a look at what the projected bracket would look like:

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1. Oregon: Bye (would then play the winner of 8. Tennessee vs. 9. Indiana)

2. Georgia: Bye (would then play the winner of 7. Penn State vs. 10. Notre Dame)

3. Miami: Bye (would then play the winner of 6. Texas vs. 11. Alabama)

4. BYU: Bye (would then play the winner of 5. Ohio State vs. 12. Boise State)

5. Ohio State (Big Ten championship runner-up) vs. 12. Boise State (highest-ranked Group of 5 champion)

6. Texas (SEC championship runner-up) vs. 11. Alabama (one of the top-12 teams)

7. Penn State (one of the top-12 teams) vs. 10. Notre Dame (one of the top-12 teams)

8. Tennessee (one of the top-12 teams) vs. 9. Indiana (one of the top-12 teams)

First two teams out:
13. SMU
14. Texas A&M

RJ Young is a national college football writer and analyst for FOX Sports and the host of the podcast "The Number One College Football Show." Follow him at @RJ_Young.

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