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National Signing Day unofficially kicked off the new season on February 5, 2015. The Horned Frogs shut down the Rebel offense and picked apart the vaunted Ole Miss defense in a decisive 42–3 TCU victory. The Horned Frogs were invited to play in the 2014 Peach Bowl, in Atlanta, Georgia, against the Ole Miss Rebels of the SEC. In the next-to-last CFP rankings, the Frogs checked in at #3 however, even after a decisive 55–3 win over Iowa State in the final week, the College Football Playoff Selection Committee dropped the Big 12 Co-Champion Horned Frogs from #3 to #6, and out of the Playoff, in the final regular-season rankings.
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During the regular season, the Horned Frogs ranked as high as #3 in the College Football Playoff Rankings and were in the mix to be included in the inaugural, 4-team College Football Playoff. TCU knocked off three top-10 teams during their 2014 campaign, #4 Oklahoma, #7 Kansas State and #9 Ole Miss. The Frogs' sole loss came at #5 Baylor, 58–61. The Horned Frogs introduced a new, up-tempo offense in 2014 under new co-offensive coordinators Doug Meacham and Sonny Cumbie, led by junior quarterback Trevone Boykin, who finished 4th in the 2014 Heisman Trophy voting.
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The 2014 TCU Horned Frogs football team notched a 12–1 record and finished the season ranked #3.