Bill Hancock: Trophy is 'priceless'

IRVING, Texas -- A rising, gold, football-shaped trophy will be the prize for the national champion in the new College Football Playoff.

College Football Playoff executive director Bill Hancock unveiled the more-than-2-foot-tall national championship trophy on Monday, saying it "will become an icon of our game."

Made from 24-karat gold, bronze and stainless steel, the bottom of the trophy is shaped like a football and rises to form an actual-sized ball at the top.

Hancock said the trophy, which weighs about 35 pounds, is designed to be hoisted from its foot-high base.

He took a selfie with the trophy but says the first hoisting will be reserved for the winner of the first national championship game Jan. 12 in Arlington, Texas.

Hancock said the College Football Playoff committee was looking for a design that was "contemporary, bold and modern." They looked at three or four dozen different designs, and video from game celebrations before choosing the trophy.

When addressing the cost of the trophy, Hancock called it a "priceless, one-of-a-kind piece of art."

ESPN.com's Heather Dinich and The Associated Press contributed to this report.