The 1987 Austin Peay Governors football team represented Austin Peay State University as a member of the Ohio Valley Conference (OVC) during the 1987 NCAA Division I-AA football season.
Led by seventh-year head coach Emory Hale, the Governors compiled an overall record of 2–9, with a mark of 1–5 in conference play, and finished tied for sixth in the OVC.
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