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I think that this "would be determined by the combined payout of each game" needs this addition: "minus the combines ticket purchase requirement imposed upon the two participating schools". Otherwise, some bowls would bump up their ticket requirement (# and/or price) just to move up in the pecking order. (Don't know if that would change the selection order in the above illustration or not.)

2 years, 7 months ago on Forget Selection Committees And Conference Tie-Ins, It’s Time For A Bowl Draft