MIAMI -- The Rose and Sugar bowls will host college football's first national semifinals on Jan. 1, 2015, with the AT&T Cotton Bowl a "prohibitive favorite" to host the national title game on Jan. 12, 2015, sources said Monday.

Under the 12-year deal, which begins after the 2014 season, the Rose Bowl Game presented by Vizio and Allstate Sugar Bowl will be played on Jan. 1 every season whether they are hosting the national semifinals or not.

During the 12-year contract, the Rose and Sugar will host the semifinals four times. In the years they aren't hosting, the national semifinals would be moved from Jan. 1 to Dec. 31, sources said.

The only exceptions would be on Sunday, Jan. 1, 2017, and Sunday, Jan. 1, 2023, when the Rose and Sugar would move to Dec. 31, 2016, and Dec. 31, 2022, respectively. If the Rose and Sugar don't host the semifinals in those two seasons, the national semifinals would be played on Dec. 30, 2016, and Dec. 30, 2022. Six bowls, also to include the Orange, will rotate as hosts for the national semifinals. The other three have not been officially determined. Sources told ESPN they would be the Cotton, Tostitos Fiesta and Chick-fil-A bowls.