There isn't, just as there isn't a guaranteed spot for any of the P5 conferences in the current 4-team CFP...even the SEC. Any talk of a guaranteed spot in the CFP would have to be part of a new CFP, expanded such that named conferences receive a guaranteed spot. Obviously, the SEC wants the CFP expanded to 12 or more...and it would have been approved if the whole OuT thing hadn't been OuTed. The other P5 conferences likely want to settle on a CFP that doesn't give an edge to the SEC.So where in the contract does it state that there is a guaranteed spot in the cfp for the big 12 champion?
By the way, per ratings and actual fan attendance, the "new" Big 12 is the #3 conference in the P5...not the ACC or the PAC 12. I think the PAC 12 is going to be really disappointed when the initial media pricing comes out in 2 years...their performance thus far this year couldn't come at a worse time.