The Sugar Bowl will host the first meeting of SEC and Big-12 champions in 2015. (Kevin C. Cox/Getty Images)
Sources told ESPN the Sugar Bowl in New Orleans has been selected over the Cotton Bowl in Arlington, Texas as the site of the new Champions Bowl.
Sources said one of the factors why the Sugar Bowl was selected was the SEC's long history in New Orleans. An SEC team played in the inaugural Sugar Bowl in 1935 and SEC teams have been a staple with the bowl game ever since.
The game will take the name of the Sugar Bowl as the "Champions Bowl" name was just a temporary placeholder.
The first Sugar Bowl pitting the champions of the Big 12 and SEC will be Jan. 1, 2015. If the SEC or Big 12 champion advances to the national semifinals, each conference would then provide another team for the Sugar Bowl.
The Sugar Bowl also will be part of the semifinal rotation -- that includes the Rose Bowl and Orange Bowl -- of college football's 12-year four-team playoff deal that starts after the 2014 regular season.