On the play immediately prior to Lawrence's field goal, as the game clock ticked down Texas quarterback Colt McCoy rolled far to the right, with Nebraska's Ndamukong Suh in pursuit, and threw a pass well downfield and out of bounds. The game clock ran out, which would have ended the game, with Nebraska appearing to win 12–10. However, pursuant to Rule 12-3-6, the video replay official determined that an "egregious", and therefore reviewable, error concerning the game clock had occurred and ordered the errantly elapsed one second be returned to the clock. The ESPN/ABC video feed showed that McCoy's pass hit a stadium railing out of bounds with :01 left, allowing Texas to kick the winning field goal to advance to the BCS title game.
The game was the third championship tilt between the Cornhuskers and Longhorns. Unranked Texas upset #3 Nebraska 37–27 in 1996 in St. Louis, Missouri, while #2 Nebraska beat #12 Texas 22–6 in 1999 in San Antonio, Texas. Texas is now 3–2 in the conference title game; Nebraska fell to 2–3. Texas is second in Big 12 Championship titles to Oklahoma, who own 7 conference titles.
Per Big 12 policy, Nebraska was declared the home team because the game took place in a home state of four Big 12 South teams. Designated "home" teams are 9–5 in Big 12 Championship Games. The South Division has won 6 years in a row and is 10–4 overall.
The Big 12 Championship Game matched up the winner of the North and South divisions of the Big 12 Conference. The game was first played in 1996, when the conference was assembled to include all of the teams from the Big Eight Conference as well as four teams that had formerly been members of the Southwest Conference. The championship game was modeled on the SEC format, which was the first conference in college football to have a conference championship game. Today, five additional conferences also now hold conference championship games: the ACC, C-USA, MAC, Big Ten, and Pac-12. While the Big 12 has dropped their championship game at this time because only having 10 teams and a championship game requires at least 12. The problem of not having a conference championship game has stirred up controversy in the new College Football Playoff system. In 2014, TCU and Baylor have an identical 11-1 record but Baylor took the head-to-head on TCU, and were both declared co-champions, which allowed Ohio State, a definitive conference champion (Big 10) to make the final four in the new system, routing Wisconsin 59-0.