The Governor's Victory Bell was first presented in 1993 to commemorate Penn State's entry into the Big Ten Conference, with their first league game coming against the Golden Gophers. Penn State won the trophy during the first four matchups, Minnesota the next four. In 2005, the Nittany Lions regained the trophy after beating the Golden Gophers, and have won the next two contests, retaining the trophy. In 2008, Penn State recorded the first shutout of the series when they beat Minnesota 20–0; the previous low score for each team was 3 for Minnesota in 1994 and 7 for Penn State in 2004.
In 2010, after the University of Nebraska joined the Big Ten as its 12th member, the conference was split into two divisions. Penn State and Minnesota were placed in different divisions and thus, beginning in 2011, the rivalry will only be held four times every ten years. In 2014, the University of Maryland and Rutgers University will join the Big Ten. Due to the future changes in the Big Ten's scheduling procedures, the rivalry will be held approximately two times every seven years starting in 2014; this will change to three times every seven years when the Big Ten adds another conference game effective 2016.
Minnesota leads the series 5–3, with five No Contest results as a result of NCAA Sanctions declaring five Penn State wins No Contest, with an overall 10-game unbeaten streak when the no contest results.