The Orange Bowl has served as the host of the national championship a few times in its storied history, but for the first time ever it will play host to a College Football Playoff semifinal on New Year's Eve.

In the first year of the College Football Playoff era, the Orange Bowl served as one of the New Year's Six games, but did not host a semifinal. Instead it featured Georgia Tech extending the ACC's winning streak in the game to three straight victories.

When the game was first founded in 1935, it was held at Miami Field and then moved to the Miami Orange Bowl three years later, where it remained for the next six decades. The game eventually moved to Sun Life Stadium when the Miami Orange Bowl was demolished shortly after the game's departure.

Here is everything you need to know to get ready for this year's Capital One Orange Bowl:

Date and time: Thursday, Dec. 31, 4 or 8 p.m.

TV channel: ESPN

Location: Miami Gardens, Fla.

Stadium: Sun Life Stadium, 65,326

Last year's score: Georgia Tech 49, Mississippi State 34

Last year's attendance: 58,211

Last year's TV rating: 5.0

Last year's payout for each school: $18 million

Teams with the most all-time appearances: Oklahoma, 18

Teams with the most all-time wins: Oklahoma, 12

Clemson Tigers (13-0, 8-0 in ACC)

After defeating the North Carolina Tar Heels in the ACC Championship Game, the Clemson Tigers officially punched their ticket to the College Football Playoff, likely as the No. 1 seed. The high-powered Tar Heel offense tested the Tigers, but they were able to pull out yet another victory to make good on their top ranking.

There's no denying that it wasn't the strongest schedule in the world for the Tigers, but they still did what no other team in the country was able to do by going undefeated. Despite facing many weaker teams, Clemson also has wins over Notre Dame, Florida State and North Carolina to back up its strength of schedule. Heisman contender Deshaun Watson has led the Tigers with nearly 4,000 total yards, 41 total touchdowns and a completion rate of 69.5 percent.

The Tigers are arguably the most well-rounded team in the country. They can throw the ball or run the ball, defend both the pass and the run, and have a special teams unit as solid as they come. No matter who they end up paired with for the playoff semifinal, they will be prepared. Dabo Swinney has this team clicking on all cylinders as it prepares to make a run at a national championship.

Last bowl game: 2014 Russell Athletic Bowl (40-6 win over Oklahoma)

All-time bowl record: 19-18

Head coach's bowl record: Dabo Swinney is 4-3 in bowl games as a head coach, all with Clemson.

Oklahoma Sooners (11-1, 8-1 in Big 12)

Oklahoma has been perfect all season save for a disastrous loss to Texas in October. The Sooners are a little unconventional, with undersized former walk-on Baker Mayfield stepping in at quarterback and leading them on a ridiculous run through the Big 12. Mayfield's been an incredible story, landing in Norman after not sticking at Texas Tech and going on to throw this year for better than 3,000 yards and a 35-to-5 touchdowns-to-interceptions ratio. From nowhere, he's one of the best quarterbacks in the country.

The Sooners have a lot more going for them than just Mayfield. Running back Samaje Perine is one of the best in the country, going for 1,291 yards and 15 touchdowns. His backup, Joe Mixon, had 749 yards to give the Sooners a credible one-two punch in the backfield. Sterling Shepard is a 1,200-yard, 11-touchdown receiver who catches 76 percent of his targets. Offensive coordinator Lincoln Riley has weapons everywhere.

The defense holds up its end of the Sooners' bargain, too, ranking No. 31 nationally in total yardage and No. 21 in scoring defense. The Sooners are fun and they're deadly.

Last bowl game: 2014 Russell Athletic Bowl (40-6 loss to Clemson)

All-time bowl record: 28-19-1

Head coach's bowl record: Bob Stoops is 8-8 in bowls, all at Oklahoma.