In the wake of the Department of Justice questioning college football’s lack of a postseason playoff, Fresno State President John Welty issued a statement Thursday evening backing the proposed notion that the current Bowl Championship Series system must go.

Since its initial implementation in 1998, mid-major programs such as Fresno State have cried foul that the BCS does not allow for equal opportunities for national title contention across the college football nation. The Department of Justice has openly said that there are “serious questions” with the system and antitrust laws may be in violation.

“BCS representatives have claimed that the Department of Justice should not investigate this matter because it would waste government’s time and taxpayer’s money,” Welty said in the statement. “But I respectfully disagree. We wouldn’t question an investigation of a big industry. And Division I college football is a multi-billion dollar business.”

After football programs from second-tier conferences such as the Western Athletic Conference and Mountain West Conference stormed onto the BCS scene in recent years, many critics nationwide have proposed the current format needs a replacement, including President Barack Obama.

Welty said in the statement that change in the current format does not exactly mean a sudden decline in finances, arguing that a playoff would benefit programs that have been allegedly suppressed under the BCS.

“It’s possible that a different system for post-season college football would generate additional revenue for mid-major programs such as Fresno State’s,” Welty said in the statement. “That revenue certainly would be a great help at a time when our students are suffering from declining state budget support and our athletics program has economic difficulty.”

The current BCS contract is set to expire in 2014.