In 1969, Theismann led the Irish to a number five ranking, but lost to the University of Texas in the 1970 Cotton Bowl Classic, 21–17. The next year, the Irish had a 10–1 record, a number two ranking, and won against Texas in the 1971 Cotton Bowl Classic, 24–11. That year, Theismann was an All-American and an Academic All-American, and was in contention for the Heisman Trophy. Theismann, whose last name was actually pronounced "Theesman", recounted in 2007 that it was Notre Dame publicity man Roger Valdiserri who insisted that he change the pronunciation of his name to rhyme with "Heisman", but he finished second to Jim Plunkett of Stanford University.

This Notre Dame Fighting Irish mini helmet was signed in black by Theismann and inscribed, "Go Irish!" This mini helmet includes a Great Moments COA.