Memphis compiled a 6–6 record in regular-season play, 3–5 in conference play. Their season included a four-game winning streak followed by a four-game losing streak. The Tigers faced two ranked teams, losing to both Tulane and UCF. Entering this game, Memphis had been invited to a bowl game each season since 2014, including the 2021 Hawaii Bowl, which was canceled the day before kickoff.
Utah State also recorded a 6–6 regular-season record; they went 5–3 in conference play. After starting the season 1–4, the Aggies then won five of their remaining seven games to become bowl eligible. They faced, and lost to, two ranked FBS teams, Alabama and BYU. This was the Aggies' 10th bowl appearance since the 2011 season.