NEW ORLEANS -- College Football Playoff executive director Bill Hancock, who has been the leader of the sport's national championship format for the past decade, has received a contract extension, he said on Monday.

The CFP Board of Managers, which is comprised of 11 university presidents and chancellors, unanimously approved the new contract at their annual meeting on Monday at the Hyatt Regency.

Hancock's current three-year deal expires in June. The exact terms of the new contract were not released.

"It's a rolling agreement," Hancock said, "so I intend to be here as long as they'll have me and as long as I want to. I'm having a blast. I'm honored and delighted to get to do what I do."

Hancock spent 16 years with the NCAA Division I men's basketball championship, including 13 years as its director. In 2005, he was appointed administrator of the BCS and became its executive director in 2009. Hancock was named to the same role for the playoff when it was created.

"Bill's been the ideal person to be in that role at the beginning of the playoff," said ACC commissioner John Swofford. "His way with people, his understanding of how we reached the point of starting the playoff, his involvement with the previous BCS system, his knowledge of the industry all led to our feeling that he was the right person for the job at that time. He's exceeded expectations in that role. I think it's very fitting that he's continuing, and very beneficial to the playoff and college football."

The CFP, which was announced in 2012, replaced the BCS and began after the 2014-15 season. Monday night's game between No. 1 LSU and No. 3 Clemson will determine the sixth national champion in the era of the CFP. The current 12-year contract expires in 2026.