In Tom Osborne's last season as head coach, Nebraska took over the #1 ranking in the nation after defeating Texas Tech midway through the season. Three weeks later, despite winning at Missouri in an overtime game, Nebraska slipped to a #2 ranking in the polls, as voters weren't impressed by the way the Cornhuskers won the game (a controversial kicked ball that was caught for the game-tying TD as time expired in regulation); Michigan moved ahead of Nebraska after its 34-8 victory over #3 ranked Penn State.
Undefeated #2 Nebraska squared off in the 1998 Orange Bowl versus the #3 ranked Tennessee Volunteers. Unusually for the low-key Osborne and his straight-ahead team, the Cornhuskers made a point of smacking down Tennessee as they defeated the Volunteers 42-17, and after the game campaigned openly for Nebraska to be named the consensus national champion (Grant Wistrom stated that if "they wanted to give it to Michigan because they haven't won one in 50 years, we don't want it anyway.").
After the bowl games, the AP poll awarded the national championship to Michigan, and the USA Today/ESPN Coaches Poll awarded the national championship to Nebraska, giving Tom Osborne his third national title in four seasons to cap his career. This also marked the last time that a Big 10 (or Pac-10) team would be bound to play in the Rose Bowl instead of heading to a #1-#2 title game, due to the 1998 BCS realignment.
The national title picture could have been even murkier as Florida State went into their final regular season game ranked #1. However, Fred Taylor of Florida would run for 162 yards and four touchdowns on the nation's top-ranked run defense, one of those touchdowns being the winning score with less than two minutes to play. This game is commonly referred to as "The Greatest Game Ever Played in the Swamp".
The Humanitarian Bowl, now known as the Famous Idaho Potato Bowl, began play in Boise, Idaho to help publicise the dwindling Big West Conference and Boise State. The Broncos with their wacky blue turf had just made the jump to Division I-A a year earlier. The Big West champion had formerly gone to the Las Vegas Bowl, but the now only 6 team conference wasn't much of a seat filler.
Charged teams with a time-out if a player is not wearing their mouth guard. If a team is out of time-outs when the infraction occurs, a five-yard penalty is assessed.
Changed the penalty for roughing the punt receiver to 15 yards if he is contacted by a defender within six feet after catching the ball.
Requiring the game clock be started once the ball is kicked on kickoffs and free kicks after safeties except in the final 2:00 of each half.
The clock for halftime was to be started immediately following the conclusion of the second quarter. Previously, the clock did not start until all participants had cleared the field and the referee signaled the timekeeper to start the clock.
One team upgraded from Division I-AA prior to the season. As such, the total number of Division I-A schools increased again, from 111 to 112.
The MAC added two new members, independent (and former member) Northern Illinois and Division I-AA power Marshall, to expand to 12 teams. The league subsequently formed two divisions and added a league championship game.