If Nebraska wins this week, we're in the Capital One Bowl (despite Northwestern's better record).
If Nebraska loses, we're looking at the Outback Bowl.
I'm expecting to see us in the Capital One Bowl, matched up against either LSU or TAMU.
I was following the Cap One Bowl's twitter yesterday when they were in meetings (it was awesome, they basically live tweeted their discussions). They question TAMU's possible presence in Florida if they selected them. TAMU hasn't been to the state of Florida for a bowl since the 50's, apparently. They know what they're getting in LSU. South Carolina was there last year, so they would prefer to not have them back again this year.
That all being said, if I had to bet, I'd bet on hearing of a Michigan vs LSU matchup in Orlanda next Sunday night when it's announced.
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"I don't get sick. I don't observe major holidays. I'm a jackhammer." - Jim Harbaugh & Dwight Schrute