The Big 12 and Southeastern conference have announced a deal that will pit their football regular-season champions against each other in a New Year’s Day bowl game for five-years following the 2014 season.

''A new January bowl tradition is born,'' SEC Commissioner Mike Slive said in a statement. ''This new game will provide a great matchup between the two most successful conferences in the BCS era and will complement the exciting postseason atmosphere created by the new four-team model. Most importantly, it will provide our student-athletes, coaches and fans with an outstanding bowl experience.''

The champions of the two conferences will be in the matchup unless one or both are selected to play in the new four-team model to determine the national championship. Should that occur, another deserving team from the conference(s) would be selected for the game.

''Our goal is to provide the fans across the country with a New Year's Day prime-time tradition,'' acting Big 12 Conference Commissioner Chuck Neinas said. ''This is a landmark agreement between two of the most successful football conferences during the BCS era to stage a postseason event. The creation of this game featuring the champions of the Big 12 and SEC will have tremendous resonance in college football.''

Specific details for the matchup, including host sites, will be announced later.