Stanford kicker Jordan Williamson missed field goals at the end of regulation and in the Cardinal's first chance in overtime, and OSU kicker Quinn Sharp drained a 23-yard field goal to win the Fiesta Bowl 41-38 in dramatic fashion.
Williamson connected on a 16-yard field goal in the opening moments of the fourth quarter to give the Cardinal a 31-24 lead just 45 seconds into the quarter.
However, the Cowboys would respond almost immediately and quarterback Brandon Weeden hooked up with Justin Blackmon for a 17-yard touchdown, their third of the game, scoring in just 2:23 to tie the game with just 12 minutes to play.
The Cardinal turned to its rushing attack in an attempt to capitalize on a tired Oklahoma State defense, as well as leave the Cowboys with little time to put together a scoring drive.
Stanford rushed on seven consecutive downs for 39 yards, and then converted on a 3rd and 14 to set up a Stepfan Taylor one-yard touchdown rush to take a 38-31 lead with 4:34 left on the clock.
But as they've exhibited all season, the Cowboys needed very little time to get on the scoreboard, as Weeden was surgical on OSU's final offensive drive of regulation. The senior hit five of his six attempts for 63 yards, setting up a four-yard rushing touchdown by Joseph Randle to tie the game with 2:35 left on the clock.
On the Cardinal's next drive, Luck showed everyone why he is presumed to be the first selection in the upcoming NFL Draft. He hit on all five of his pass attempts, including a 25-yard strike to Jeremy Stewart to move Stanford into field goal range with 52 seconds left on the clock.
Taylor rushed the ball on the next two downs to put the ball on the Oklahoma State 17-yard line, leaving just three seconds for the apparent game-winning kick. But Williamson pushed the ensuing kick left for the second time in the game as time expired to send the game into overtime.
The Cowboys won the toss and elected to play defense first. A five-yard rush from Taylor was undone by a false start on second down before Taylor was brought down for a loss of three to put Stanford in a 3rd-and-long situation.
Luck found Ty Montgomery on the play, but it went for just three yards, setting up a 35-yard field goal attempt to keep Stanford in the game. But misfortune struck Williamson once again, and after a bad snap he pushed yet another field goal left, meaning Oklahoma State would just need a field goal to win.
On the second play of the Cowboys' possession, Weeden connected with senior Colton Chelf for an apparent game-winning touchdown, but on review Chelf was ruled down at the one-yard line. Sharp trotted onto the field and after being iced by a Stanford timeout, drained a 22-yard field goal to come away with a win.
Statistically, Stanford was dominant in the game, outgaining the Cowboys 590 to 412, coming away with 27 first downs to Oklahoma State's 15 and holding the ball for nearly 42 minutes.
Blackmon was named the offensive MVP of the game after declaring in a postgame interview that he would be entering the NFL Draft, finishing the game with 186 yards and three touchdowns on just eight receptions. Weeden also turned in a solid performance to end his career, completing 29 of his 42 attempts for 399 yards and three scores.
Luck did his best to keep the Cardinal in the game, coming away with 347 yards and two scores on a 27-of31 passing performance. Taylor did good work for Stanford as well, rushing 35 times for 177 yards and a pair of touchdowns.
Oklahoma State came away with a win in its first-ever BCS Bowl appearance, as well as finishing with 12 wins for the first time in school history.