Michigan wins the Rose Bowl semifinal over Alabama in overtime.

For the first time since the CFP era, the top-seeded Wolverines (14-0) advanced to the championship game thanks to the thrilling victory. Michigan won the game by holding off a resolute effort from the Crimson Tide (12-2) and halting Alabama on a fourth down in overtime.

Michigan's opponent will be the victor of the other semifinal between Texas and Washington on Monday night. On January 8, they will face off at Houston's NRG Field.

 In the third overtime game in CFP history, Corum, who ended with 19 carries for 83 yards, ran for 25 yards on two plays during OT.

Late in the fourth quarter, with Michigan trailing 20–13, head coach Jim Harbaugh took a chance and made a conversion on a 4th-and–2 play in Wolverines territory, tying the score. J.J. McCarthy hit Roman Wilson for a 29-yard throw to get the Alabama 5, and the two players connected again for a 4-yard scoring play two plays later. With 1:34 remaining, the score was knotted, 20–20, thanks to a successful extra point.

McCarthy won the award for most attacking player of the match. 17 out of 27 passes for 221 yards and three touchdowns were completed by him. Mason Graham of Michigan was selected as the game's defensive player of the year.

The fourth-seeded Crimson Tide adapted and mounted a threat late in the third quarter after being frustrated by Michigan's fierce defense in the first half. On the opening play of the fourth quarter, quarterback Jalen Milroe, who was sacked five times in the first half and six times total, raced 18 yards up the middle.

Jase McClelland's second touchdown of the game, a 3-yard run, was made possible by that. With 13:30 remaining in the game, Alabama was ahead 17–13 after the successful extra point. With 4:41 remaining, Will Reichard made a 52-yard field goal to give the Crimson Tide a 20–13 lead.

However, Milroe tripped later in the half, and Quinten Johnson of Michigan recovered the ball at the Alabama 46. With 10:30 left, Michigan's offensive faltered as James Turner missed a 49-yard field goal attempt, squandering the chance.

In the first half, Michigan's defense allowed just 96 yards of offense to the Crimson Tide. Now, the Wolverines want to win the program's first national championship since 1997. The two teams met for the sixth time in their history on Monday. In the 2019 Citrus Bowl, Alabama defeated Michigan 35–16.

Semaj Morgan mishandled the punt in the first quarter, which Alabama capitalized on to score a touchdown and take a 7-0 lead. With 9:41 remaining in the half, McClelland received a handoff, cut against the grain, and raced for a 34-yard score.

In the following series, Michigan immediately recovered to tie the game. With 4:23 remaining in the first quarter, quarterback J.J. McCarthy found Wolverines running back Blake Corum for an 8-yard touchdown pass after Corum converted a 4th-and-1 at the Alabama 39.

With 3:49 remaining in the half, Tyler Morris received a ball and raced down the right sideline for a 38-yard touchdown, giving Michigan a 13-7 lead. The first of the Wolverines' special teams problems throughout the game occurred when the extra point snap was erroneous.

After halftime, Alabama's lead was 13-10 thanks to a 50-yard field goal by Reichard.

Despite coach Jim Harbaugh serving two separate suspensions that prevented him from coaching for six games, Michigan came into the game undefeated and with the number one seed in the playoffs. Still, according to Sports Illustrated, the Wolverines won their third consecutive Big Ten championship and finished undefeated.

According to ESPN, university administrators benched Harbaugh for three games to start the season following an NCAA investigation for possible recruiting infractions during the COVID-19 epidemic dead period. According to the cable sports network, he was punished by the Big Ten for the final three regular-season games after Michigan was the focus of another NCAA investigation into a sign-stealing operation.

Following their loss to Texas in the opening week of the season, Alabama went on to win 11 straight games. Sports Illustrated reports that the Crimson Tide, who had appeared to be eliminated from the running for a berth in the CFP, surprised everyone by upsetting Georgia, the two-time defending national champion, in the Southeastern Conference championship game. They advanced as the No. 4 seed to the final four, besting undefeated Florida State in the process.