Led by second-year head coach and alumnus Jon Embree, the Buffaloes played home games on campus at Folsom Field in Boulder, Colorado.

The season was a disaster for the Buffaloes, who were regularly blown out by their opponents.

CU lost to FCS Sacramento State, and only managed a single win with a late comeback at Washington State in Mike Leach's first season with the Cougars.

Two days after the season on November 25, Embree was fired; he compiled a 4–21 (.160) record, including 1–11 in his final year.

On November 25, 2012, the university announced that Athletic Director Mike Bohn had fired head coach Jon Embree.