The Big 12 commissioner says the conference will reconsider how to declare its champion after being left out of the four-team college football playoff.

In a phone interview on the College Football Playoff Selection Show, Big 12 commissioner Bob Bowlsby told ESPN's Rece Davis: "It's clear that we were penalized for not having a postseason championship game. It would have been nice to have been told that ahead of time."

"We have to weigh whether this is substantial enough to add institutions. ... It's certainly a major consideration."

The Big 12 would need to add two teams or have the NCAA approve a waiver to have a conference championship game. The Big 12 has 10 teams, and a conference must have 12 teams to have a conference championship game.

Big 12 commissioner Bob Bowlsby, right, said the league will reconsider how to declare its champion after being left out of the four-team college football playoff. AP Photo/Tony Gutierrez

The words of Football Playoff Committee chairman Jeff Long "will cause us to go back to the drawing board a little bit and think about if we need a different model," Bowlsby said, referring to tie-breakers and title-game discussions.

The Big 12 is the only conference in the Power Five without a championship game, but plays a round-robin schedule. Baylor and TCU were co-champions, even with the Bears' head-to-head win over the Horned Frogs.

After Saturday's 38-27 win over Kansas State, Baylor coach Art Briles declared his team to the crowd as the only Big 12 champion. The night ended with Bowlsby and Briles engaged in an animated conversation on the podium about the Big 12 presenting co-champions to the committee.