The 2003 NCAA Division I-A football season ended with an abundance of controversy, resulting in a split national championship. This was the first split title since the inception of the BCS, something the BCS intended to eliminate.
At season's end, three major conference teams finished the regular season with one loss, with only two spots available in the BCS National Championship Game. Three non-BCS teams also finished with one loss, TCU, Boise State and Miami (OH), stirring the debate of the BCS being unfair to mid-major teams.
USC had lost a triple overtime thriller at California on September 27, LSU lost at home to Florida on October 11, and Oklahoma, which had been #1 in every BCS rating,^[1] AP and Coaches' Poll^[2] of the season, lost to Kansas State in the Big 12 Championship Game, 35-7 on December 6. Although USC, then 11-1, finished ranked #1 in both the AP and Coaches' Polls, with LSU (12-1) ranked #2 and Oklahoma (12-1) #3, Oklahoma surpassed both USC and LSU on several BCS computer factors. Oklahoma's schedule strength was ranked 11th to LSU's 29th and USC's 37th. Oklahoma's schedule rank was 0.44 to LSU's 1.16 and USC's 1.48. As such, despite the timing of Oklahoma's loss affecting the human voters, the computers kept Oklahoma at #1 in the BCS poll. LSU was ranked #2 by the BCS based on its #2 ranking in the AP Poll, Coaches Poll, 6 of 7 computer rankings (with the remaining one ranking them #1), and strength of schedule calculations. USC's #3 BCS ranking resulted from it being ranked #1 the AP and Coaches Poll, but #3 in 5 of 7 computer rankings (with the 2 remaining computer rankings at #1 and #4) and schedule strength, though separated by only 0.16 points.
LSU defeated Oklahoma in the 2004 Sugar Bowl, securing the BCS National Championship, as the ESPN/USA Today Coaches' Poll is contractually obligated to vote the winner of the BCS National Championship Game #1. Meanwhile, when AP #1 USC beat Michigan in the 2004 Rose Bowl, the AP voters kept USC in the top spot, and USC secured the AP title.
On January 9, 2004, Ted Waitt, CEO of Gateway Computers offered the NCAA $31 million for a national championship game between USC and Louisiana State. The NCAA did not consider the offer, leaving the year without an unarguable national champion.
Army became the first team in Division I-A NCAA football modern history to finish the season 0-13.
The Home Depot Coach of the Year Award sponsored by ESPN chose USC coach Pete Carroll as their award recipient, while the Paul "Bear" Bryant Award, voted on by an association of sportswriters, chose LSU Coach Nick Saban.
The Orange Bowl game was noteworthy in that Miami and Florida State previously had scheduled to play each other on Labor Day in 2004. Playing in the Orange Bowl ensured that their next meeting would be each of their very next games and their first of the 2004 season.
Texas was also affected by the BCS controversy. Oklahoma's late loss kept Texas from appearing in one of the BCS games. Had Oklahoma won the Big 12 championship, the two at-large teams would have been Ohio State and Texas. But with the loss, Kansas State received the Big 12 bid and Oklahoma one of the at-large bids, leaving #5 Texas on the outside looking in. Texas lost to Washington State in the Holiday Bowl.
Two Independent schools joined conferences in 2003. South Florida left to join Conference USA as its 11th member, while Utah State left the Independent ranks to join the Sun Belt Conference as its 8th member. Taken from http://en.wikipedia.org/wiki/2003_NCAA_Division_I-A_football_season.

Here are the final stats:

Final Rank	Team	Head Coach	Top NFL Player Drafted in 2004
1	Southern California	Pete Carroll	DE Kenechi Udeze
2	Louisiana State	Nick Saban	WR Devery Henderson
3	Oklahoma	Bob Stoops	DT Tommie Harris
4	Ohio State	Jim Tressel	DE Will Smith
5	Miami (FL)	Larry Coker	NT Vince Wilfork
6	Michigan	Lloyd Carr	RB Chris Perry
7	Georgia	Mark Richt	DE Robert Geathers
8	Iowa	Kirk Ferentz	T Robert Gallery
9	Washington State	Bill Doba	DB Erik Coleman
10	Miami (OH)	Terry Hoeppner	QB Ben Roethlisberger
11	Florida State	Bobby Bowden	DT Darnell Dockett
12	Texas	Mack Brown	WR Roy Williams
13	Mississippi	David Cutcliffe	QB Eli Manning
14	Kansas State	Bill Snyder	C Nick Leckey
15	Tennessee	Phillip Fulmer	G Scott Wells
16	Boise State	Dan Hawkins
17	Maryland	Ralph Friedgen	DT Randy Starks
18	Purdue	Joe Tiller	C Nick Hardwick
19	Nebraska	Frank Solich	LB Demorrio Williams
20	Minnesota	Glen Mason	FB Thomas Tapeh
21	Utah	Urban Meyer
22	Clemson	Tommy Bowden	WR Derrick Hamilton
23	Bowling Green State	Gregg Brandon
24	Florida	Ron Zook	T Max Starks
25	Texas Christian	Gary Patterson	DE Bo Schobel