The Panthers compete in the Football Bowl Subdivision (FBS) of the National Collegiate Athletic Association (NCAA) and the East Division of Conference USA (CUSA).

FIU has produced a Sun Belt Conference co-championship team in 2010, along with 3 postseason bowl appearances.

One year later, Strock was named head coach with plans to lay the foundation for a college football team.

Burke was the only player to ever throw for over 500 yards in a single game in Florida as well as led the state in touchdown passes in a season with 34.

[3] Burke was being recruited by the University of Florida but opted for FIU when Steve Spurrier left to coach the Washington Redskins.

It was these defensive performances that allowed FIU to compete with the teams in Division I-A and finish the season 5–6.

As the Panthers' began their 2006 season they almost evenly matched the teams which they played, losing almost all of their first few games by very narrow margins: Middle Tennessee 7–6, USF 21–20, Bowling Green 33–28, and Maryland 14–10.

[11] On October 14, 2006, FIU and the Miami Hurricanes met for the first time in what was supposed to be the beginning of an annual cross-town rivalry game.

During the 2007 season, FIU played its home games in the Miami Orange Bowl during the expansion of Riccardo Silva Stadium to 20,000 seats.

It was the last college football game ever played at the historic Orange Bowl prior to its demolition and the last home win at that stadium.

In September 2008, the Panthers inaugurated the expanded Riccardo Silva Stadium by hosting the South Florida Bulls with a crowd of over 16,000.

Their 3 victories came against the Western Kentucky Hilltoppers 37-20, the Louisiana Ragin' Cajuns 20-17 (1OT), and the North Texas Mean Green 35-28.

[14] On Saturday, November 27, 2010, FIU defeated Arkansas State to clinch the Sun Belt Conference Title.

After FIU suffered an 0–4 start to the 2016 campaign including blowout losses to Maryland and in-state rival UCF, Turner was fired on September 25, 2016.

Simmons previously held the Running Backs coach position at Duke University for the 2024 college football season.

Prior to his time at Duke, Simmons held the head coaching job at Florida A&M University where he won the 2023 Celebration Bowl against the Howard Bison.

Simmons holds a career head coaching record of 66-24 over 6 seasons at FAMU and Prairie View.

In total the two squads have met 17 times with Florida Atlantic holding a 16–5 lead as of the 2013 season conclusion.

The 2005 game does not count with FIU having to vacate their victory due to NCAA violations and penalties.