It could be just a tournament. It does not have to produce a "National Champion", but instead could just end with a "tournament" champion. Like basketball has the NCAAs and the NIT. The NIT champ is not the National Champion. If they want it in order to add interest to the lower level bowls, it could make sense. It would not necessarily interfere with anything already set up or require any difficult changes.

That is, It could start with just a few of the G5 conferences, playing in two existing bowl games, who then play another, later bowl game for the tournament championship. That would give the 4 G5 conferences another, slightly bigger, bowl game.

Assuming the MAC, CUSA, and the Sun Belt were the only conferences participating, this year could have been Troy, Ohio, Western Kentucky, and (App State, Toledo or La Tech). Western Michigan would obvious skip and go the the NY6 game instead. That would be worth it at the expense of the two bowl games it would replace.

After a while, I could see other G5's and independents eventually deciding to participate and then you could have six or eight teams and another weekend for it.

At six teams with all of the G5's plus independents, this year you could add in San Diego State and Temple, and replace the at-large entry with Navy, BYU, South Florida, or Boise State.

At eight teams, you would have something like this: Troy, Ohio, Western Kentucky, San Diego State, Temple, BYU, South Florida, and Boise State (maybe Army, Navy, or App State would replace someone). TV interest in that would be pretty big, IMO, and much better for the non-P5's the four bowl games it would replace.