This was the only 2007–08 bowl game in which both teams finished 6–6 on the regular season. It was also the first bowl game for both respective head coaches (Nick Saban and Dan Hawkins) at their current programs.
Early in the second quarter, Wilson connected with Nikita Stover on a 31-yard touchdown pass and the Crimson Tide lead 27–0. The Buffaloes controlled the majority of the second quarter after Wilson threw an interception to Ryan Walters with just under six minutes remaining in the half. Colorado cut the Alabama lead to 27–14 at the half on a pair of Cody Hawkins touchdown passes. The first was a four-yard pass to Tyson DeVree and the second a 25-yard pass to Dusty Sprague.
The only score in the third quarter would come from Kevin Eberhart on a 39-yard Colorado field goal. Tiffin kicked a field goal as the Crimson Tide lead 30–17 with just over four minutes remaining in the game. Colorado responded on the following drive with a 14-yard Hawkins touchdown pass to DeVree to cut the Alabama lead to 30–24 with 3:51 remaining in the game. Alabama was able to run the clock down, and after receiving the 49-yard P.J. Fitzgerald punt, only 0:01 remained in the game. On the final play of the game, Colorado attempted several lateral passes but would fall short of midfield. The 30–24 victory sent Alabama to a 7–6 overall record as they avoided a second consecutive losing season.
^In March 2009, the NCAA ruled that Alabama must vacate five of its victories from the 2007 season due to sanctions stemming from textbook-related infractions discovered during the 2007 season. After an unsuccessful appeal to the NCAA Division I Infractions Appeals Committee, their official record entering the 2007 Independence Bowl was 2–6.