The University of Wossamatta is running out of money and needs a star player for its football team to draw in spectators. Bullwinkle and Rocky are recruited, and soon their "Alley Oop!" forward passes and Bullwinkle's ability to use his antlers (which are also good for hanging hats on) enable Wossamatta to trounce every team they play.

In step professional gamblers Boris and Natasha. Having spent years breaking things, Boris now will fix - a game. But their first plan winds up only winning Wossamatta another game, so they get the help of Fearless Leader to build their own team, a phalanx of monstrous types known as the Mud City Manglers - and to drive the betting odds even higher they disguise these unspeakable turks as girls!

The funniest parts come as we see bookies all over the country watch in horror as the overwhelmingly favored Wossamatta team is trailing badly to the manglers-in-drag. Eventually, unable to possible pay off Badenov at the odds given, they flee the country - to Pottsylvania.