Welcome to the party, James Madison.

With the inclusion of JMU at No. 25 in the selection committee’s penultimate ranking — its first appearance all season — the possibility of the ACC being excluded from the playoff entirely just got real. Five-loss Duke is nowhere to be found in the ranking.

If Duke beats Virginia in the ACC championship game, it’s not guaranteed a spot in the 12-team field. It could open the door for two Group of 5 conference champions to compete for a national title, and if the playoff were today, it would be Tulane out of the American and JMU from the Sun Belt. The ACC’s best team, Miami, is still on the outside.

At No. 12, the Hurricanes still need some help, but Alabama increased its chances of earning a spot as the SEC runner-up with a small promotion to No. 9. The conference championship games can still alter the picture, but hope on the bubble is dwindling.

Bubble Watch accounts for what we have learned from the committee so far — and historical knowledge of what it means for teams clinging to hope. Teams with Would be in status below are looking good after the committee’s fifth ranking. For each Power 4 conference, we’ve also listed Still in the mix. Teams that are Out will have to wait until next year.

The conferences below are listed in order of the number of bids they would receive, ranked from the most to least, based on the selection committee’s latest ranking.

Still in the mix: Texas. The Longhorns moved up to No. 13, but the win against Texas A&M wasn’t enough to put them into the field after the fifth ranking. Texas is stuck behind Miami in part because of its loss to Florida, which Miami beat. Even if BYU and Alabama were knocked out with title game losses, that still probably won’t be enough for Texas to get into the field because the bracket has to make room for conference champions.

Out: Arkansas, Auburn, Florida, Kentucky, LSU, Mississippi State, Missouri, South Carolina, Tennessee, Vanderbilt

Big Ten

Would be in: Indiana, Ohio State, Oregon. Both Indiana and Ohio State are CFP locks — even if they lose in the conference title game — and the runner-up will still have a strong case for a top-four finish and a first-round bye. The loser’s only loss will be to a top-two team, but it could fall behind Georgia in the top four if the Bulldogs win the SEC, and/or Texas Tech if it wins the Big 12.

The Ducks punctuated their résumé with a respectable win at Washington and should be secure in their playoff position, probably hosting a first-round game. Oregon received a small boost to No. 5 after Texas A&M lost to Texas.

Still in the mix: None.

Out: Illinois, Iowa, Maryland, Michigan, Michigan State, Minnesota, Nebraska, Northwestern, Penn State, Purdue, Rutgers, UCLA, USC, Washington, Wisconsin

Big 12

Would be in: Texas Tech. The Red Raiders will play BYU in the Big 12 title game and have a great case to be in the playoff regardless of the outcome. It’s highly unlikely the selection committee would drop the Red Raiders out of the field as a two-loss Big 12 runner-up — especially considering they would have a regular-season win against the eventual conference champion. It’s also possible Texas Tech earns a first-round bye as a top-four seed if the Red Raiders win the Big 12. The committee moved them into the top four Tuesday night following Texas A&M’s loss during Rivalry Week.

Still in the mix: BYU. If BYU doesn’t win the Big 12, it’s unlikely to earn an at-large bid as the conference runner-up because the Cougars are already on the bubble and would be eliminated during the seeding process if the playoff were today. It’s not impossible, though. If Alabama finishes as a three-loss SEC runner-up, it could at least open the door for debate. BYU would have lost to Texas Tech twice, and Alabama would have defeated Georgia, the eventual SEC champ once — and it was on the road. If BYU wins the Big 12, it’s the ideal scenario for the conference because it would have two teams in the playoff.

Out: Arizona, Arizona State, Baylor, Cincinnati, Colorado, Houston, Iowa State, Kansas, Kansas State, Oklahoma State, TCU, UCF, Utah, West Virginia

ACC

Would be in: TBD. The ACC championship game will feature Virginia and Duke, and if five-loss Duke wins, it’s possible the ACC is excluded from the playoff since Duke is not part of the CFP rankings. If Virginia wins, it will represent the league in the playoff, as the two-loss Cavaliers are ranked in the top 20. And no, Miami did not play Duke or Virginia during the regular season. Duke lost to Tulane, which is the top Group of 5 playoff contender and will reach the playoff if it wins the American. Duke also lost to UConn. And it has already lost to Virginia 34-17 on Nov. 15.

Bracket

Based on the committee’s fifth ranking, the seeding would be:

First-round byes

No. 1 Ohio State (Big Ten champ)
No. 2 Indiana
No. 3 Georgia (SEC champ)
No. 4 Texas Tech (Big 12 champ)

First-round games

On campus, Dec. 19 and 20

No. 12 Tulane (American champ) at No. 5 Oregon
No. 11 Virginia (ACC champ) at No. 6 Ole Miss
No. 10 Notre Dame at No. 7 Texas A&M
No. 9 Alabama at No. 8 Oklahoma

Quarterfinal games

At the Goodyear Cotton Bowl, Capital One Orange Bowl, Rose Bowl Presented by Prudential and Allstate Sugar Bowl on Dec. 31 and Jan. 1.

No. 12 Tulane/No. 5 Oregon winner vs. No. 4 Texas Tech
No. 11 Virginia/No. 6 Ole Miss winner vs. No. 3 Georgia
No. 10 Notre Dame/No. 7 Texas A&M winner vs. No. 2 Indiana
No. 9 Alabama/No. 8 Oklahoma winner vs. No. 1 Ohio State