The Atlantic Coast Conference and the Orange Bowl Committee have announced a 12-year agreement beginning after the 2014 regular season.

The agreement places the ACC Champion in the Discover Orange Bowl unless that team is chosen to play in the national semifinals by the BCS selection committee.

If the ACC Champion does participate in the national semifinals, another team from the ACC would be selected to play in the Orange Bowl, which will be played each year on New Year’s Day at 1 p.m. ET.

“The ACC and Discover Orange Bowl have a terrific relationship and, as we look ahead to the future of postseason college football, this will further an already beneficial partnership for both organizations,” said ACC Commissioner John Swofford. “The Discover Orange Bowl has a rich history of prestige, is located within the league’s footprint and is a great destination for our student-athletes, alumni and fans. In addition to our continued partnership, we are very pleased to be playing annually on New Year’s Day.”

The ACC also announced that the Orange Bowl will host “at least four semifinal games in the new recently announced arrangement by the BCS Presidential Oversight Committee.” In the years that the Orange Bowl serves as the host of a semifinal game, the ACC Champion will play in “one of the three host bowls that will be established as per the direction of the BCS Presidential Oversight Committee.”

The agreement between the ACC and the Orange Bowl is almost identical to their previous agreement. It also mirrors the current agreements between the Big 12/SEC and the “Champions Bowl” and the Big Ten/Pac-12 and the Rose Bowl Game.