Can $3-Billion Persuade Colleges to Create a Playoff for Football?

Proposal by a sports-marketing company attracts some interest and plenty of skepticism

Jim Wheeler is a great guy. Everybody says so.

Over the past six months or so, Mr. Wheeler has traveled to see athletics directors, college presidents, and conference commissioners, who praise his attention to detail, hard work, and understanding of the economics of college football.

However, all the praise in

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