I'm not going to say which side I'm on in this argument...but I'm pretty sure I'm right about this and could use an unbiased opinion from guys who definitely know the rules.
This is the famous Clint Stoerner play...I'm guessing you've all seen it before:
It's grainy, but you can see the relevant part in the replay.
YouTube - OH MY GOODNESS!!!
NCAA rules, obviously...ruled a fumble on the field...Correct?