A slight plurality of experts picked Tulsa over Iowa State, but most predicted the game to be very close.
Iowa State lost their quarterback, Sam Richardson, due to a "flu bug" in the fourth quarter.
[4] Louisiana Tech did not end up playing in any bowl game despite boasting the nation's top scoring offense.
They lost three of their four games in November, but did manage to defeat Kansas, who were the only Big 12 team to finish with a worse in-conference record than Iowa State.
2012 was the Cyclones' second Liberty Bowl, following the 1972 game in which they lost to the Georgia Tech Yellow Jackets by a score of 31–30.
This was the Golden Hurricane's second Liberty Bowl, previously having won the 2005 game by defeating the Fresno State Bulldogs by a score of 31–24.
[10] Most experts predicted that the game would be fairly close in score and were split as to who would win, with a slight plurality favoring Tulsa.
[11][12] Iowa State came off a .500 season (six wins, six losses) during which two quarterbacks, senior Steele Jantz and freshman Sam Richardson, started at various points.
[13] Freshman Sam Richardson came into the game the starter at quarterback, a role he held since the Cyclones' 53–21 win against the Kansas Jayhawks, which made them bowl eligible.
[11] Iowa State's leading rusher coming into the game was junior running back James White, who amassed 505 rushing yards during the season.
[24] This was the second time of the season when Tulsa was set have a rematch with a team, previously doing so with Central Florida in the conference championship game.
[27][28] Green's leading receiver was sophomore Keyarris Garrett, who amassed 67 receptions for 845 yards and 9 touchdowns, all of which led the team.
[33] Beth Mowins (play-by-play), Joey Galloway (color commentary), and Lewis Johnson (sideline reporter) broadcast the game on ESPN Radio.
When Tulsa got the ball back again, Trey Watts rushed the ball for four yards on the first play of the drive, and then Cody Green threw a short pass that was intercepted by defensive back Jeremy Reeves and returned 31 yards for a touchdown that put Iowa State up 10–0.
Tulsa then put together a 9–play, 75–yard drive during which all three running backs: Alex Singleton, Ja'Terian Douglas, and Trey Watts rushed the ball.
Iowa State's next drive lasted only two plays, but the second was a 69–yard pass from Richardson to tight end Ernst Brun Jr. for a touchdown.
Tulsa got the ball at their own 41-yard line and put together a 6-play, 59-yard drive that featured passes to Willie Carter, Thomas Roberson, and Keyarris Garrett for 19, 21, and 6 yards respectively as well as a 12-yard rush by Watts.
Iowa State ran two plays prior to Richardson being intercepted by Marco Nelson at the Tulsa 31-yard line.
[37] The first drive of the fourth quarter lasted 5 plays and went 39 yards for Tulsa and was capped by a 40-yard field goal by Daniel Schwarz.
[38] Jantz completed a 15-yard pass to Brun Jr. to start his first drive in the game, but the subsequent series stalled forcing a punt, which was fair caught by Watts.
Jantz completed two more passes on the next drive prior to throwing an interception to Dexter McCoil which set up Tulsa at their 32-yard line.
The referee for the game was Alan Eck, who officiates in the Mountain West Conference during the regular season.