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The participants of the 2017 NCAA Division I Football Championship Game were the finalists of the 2016 FCS Playoffs, which began with a 24-team bracket. No. 4 seed James Madison and unseeded Youngstown State qualified for the final by winning their semifinal games. James Madison was the designated home team for the final game.
Youngstown State finished their regular season with an 8–3 record (6–2 in conference). In the FCS playoffs, they defeated Samford, Jacksonville State, Wofford, and second-seeded Eastern Washington to reach the finals. The Penguins entered the championship game with a 4–2 record in prior FCS/Division I-AA finals, contested during the 1991 through 1999 seasons.
James Madison finished their regular season with a 10–1 record (8–0 in conference). Their only loss was to North Carolina of the FBS, 56–28. In the FCS playoffs, they defeated New Hampshire, Sam Houston State, and top-seeded North Dakota State to reach the finals. The Dukes entered the championship game with a 1–0 record in prior FCS/Division I-AA finals, having defeated Montana for the 2004 season title.