BCS standings: Notre Dame takes over No. 1, Alabama is No. The latest Bowl Championship Series standings on Sunday subbed out Kansas State and Oregon for two of college football's most valuable properties. Notre Dame and Alabama, traditional powers that have each won eight Associated Press titles in their storied histories, are No. 1 and No. 2 in the latest BCS standings. Notre Dame, the only eligible undefeated school in the national title race, has a BCS average of .9973, followed by Alabama at .9333. The schools will meet for the national title on Jan. 7 in South Florida provided Notre Dame wins at USC this week and Alabama closes with victories against Auburn and Georgia in the SEC championship game. Georgia is third in the BCS with an average of .8763, followed by Florida and Oregon. Kansas State fell from first to sixth this week and is followed by Louisiana State, Stanford, Texas A&M and Florida State. UCLA, despite its big win over USC, stayed at No. Notre Dame is No. 1 in the BCS for the first time in school history while Alabama held the top spots for the first four weeks this season before its Nov. 10 home loss to Texas A&M. Notre Dame improved to 11-0 with a 38-0 home win over Wake Forest. After the game, Irish Coach Brian Kelly retreated with family and friends to his home to watch Saturday evening games featuring No. 1 Kansas State and No. 2 Oregon. Kansas State was the first pillar to fall after the Wildcats were shocked at Baylor, which was followed shortly by Stanford's overtime win at Oregon. "It's like being selected for the playoffs," Kelly said during a Sunday news conference. Now you know you're in if you take care of business. Alabama has won two BCS titles, in 2009 and 2011, while Notre Dame's last championship in 1988 came before the BCS era by a decade. Alabama and Notre Dame last played in 1987 but are more connected to the 1973 Sugar Bowl in which Notre Dame won the national title with a win over Bear Bryant's Crimson Tide. A South'ester roars over college football Notre Dame, Alabama atop the latest polls