While both wire services ranked Alabama first at the end of the regular season, the final AP poll was after the bowl games.

[2][3] UPI ranked Notre Dame fourth: one coach had given the Irish a first place vote, compared to 21 for Alabama.

)[4] In a game where the lead changed six times, Notre Dame won by a single point, 24–23, to claim the AP national championship.

The NCAA Football Guide, however, did note an "unofficial national champion" based on the top ranked teams in the "wire service" (AP and UPI) polls.

Because Big Ten rules allowed only one team to participate in postseason play, Michigan was forced to stay home while Ohio State matched up against No.

The eighth-ranked Longhorns struggled in non-conference play but blew through their SWC opponents for their sixth straight title, with an incredible 40−2 conference record since 1968.

Monday, December 31, 1973 Tuesday, January 1, 1974 Alabama and Notre Dame had never met in a college football game before their encounter in the Sugar Bowl, which was played on New Year's Eve at Tulane Stadium, with kickoff at 7:15 pm CST.

[7] Two legendary coaches, Bear Bryant and Ara Parseghian brought their teams to New Orleans, and the game was a thriller.

After Alabama took a 7–6 lead, freshman Al Hunter returned the ensuing kickoff 93 yards for a touchdown, and a two-point conversion put Notre Dame up 14–7.

In the final minutes, Notre Dame's Bob Thomas (who had missed the earlier point after try) kicked a 19-yard field goal that gave the team the 24–23 win.

[4] Running back John Cappelletti had the third best year in Penn State history when he gained 1,117 yards rushing in 1972.

Cappelletti's acceptance speech on December 13 at the Heisman Dinner (with new Vice President Gerald Ford next to him on the dais)[12] was considered the most moving ever given at these ceremonies, as he honored his 11-year-old brother Joey, who was battling leukemia at the time.