Michigan got on the board first after a 4-yard touchdown run by Chris Perry to open up a 7–0 lead. In the second quarter, Florida running back Earnest Graham scored on a 2-yard touchdown run to tie the game at 7-7. Later in the second quarter, Graham scored again on a 1-yard run, but a two-point conversion attempt by Ran Carthon failed. Florida led 13–7. Chris Perry scored again on a 1-yard run to give Michigan a 14–13 lead. Florida kicker Matt Leach connected on a 29-yard field goal to retake the lead for the Gators, 16–14. John Navarre threw an 8-yard touchdown pass to wide receiver Ronald Bellamy to give Michigan a 21-16 halftime lead.
In the third quarter, Florida quarterback Rex Grossman threw a 33-yard touchdown pass to wide receiver Keiwan Ratliff to put Florida up 23–21. Michigan answered with two more touchdown runs by Chris Perry, from 7 and 12 yards out, to lead 35–23. In the fourth quarter, Grossman found wide receiver Aaron Walker for a 3-yard touchdown pass to cut the lead to 35–30. Adam Finley connected on a 33-yard field goal to increase Michigan's lead to 38–30, which held up as the final score.
- Florida - Earnest Graham, 2-yard run (Matt Leach kick)
- Florida - Earnest Graham, 1-yard run (Ran Carthon run failed)
- Michigan - Chris Perry, 1-yard run (Adam Finley kick)
- Florida - Matt Leach, 29-yard field goal
- Michigan - Ronald Bellamy, 8-yard pass from John Navarre (John Hines kick)
- Florida - Keiwan Ratliff, 33-yard pass from Rex Grossman (Matt Leach kick)
- Michigan - Chris Perry, 7-yard run (Adam Finley kick)
- Michigan - Chris Perry, 12-yard run (Adam Finley kick)
- Florida - Aaron Walker, 3-yard pass from Rex Grossman (Matt Leach kick)
- Michigan - Adam Finley, 33-yard field goal