Corrected entry: When the US is playing the West German team in the Olympics, up on the score board the initials "GDR" are shown. The initials "GDR" stood for "German Democratic Republic," which was East Germany at the time. The initials for West Germany were "FRG" for "Federal Republic of Germany".
Correction: During the actual game at the Olympics, the scorekeeper made this mistake, therefore Disney was only recounting the error in the movie, and not actually making the mistake themselves. This is similar to the real mistake Walter Kronkite made, that was repeated in the film, Apollo 13.
Corrected entry: There is no horn or buzzer that accompanies the red light when a hockey goal is scored. The horn/buzzer only sounds when time expires.
Correction: The horn does sound for goals, in the NHL only for the home team and at a neutral location (such as the olympics) the horn sounds for both teams.
Corrected entry: As the USA team takes their places on the ice before one of the Olympic games (against Russia, I believe), Craig is shown in front of the goal with Rizzo and O'Callahan on either side of him. The next shot shows Rizzo in the foreground with Craig in the background putting on his goalie mask. The shot then cuts to O'Callahan in the foreground again with Craig in the background, and again showing Craig putting on his mask.
Correction: Good observation, but the camera cuts away long enough for Craig to lift up his mask again and either make a readjustment or wipe his face, explaining why he would be shown putting it on again.
Corrected entry: Listen right before the famous "...five seconds to go. Do you believe in miracles? YES." Al Michaels, the announcer, suddenly sounds like he inhales a helium balloon; his voice goes so high.
Correction: That's because they purposely made a transition to the Al Michaels from the actual 1980 broadcast. The filmmakers agreed that the actual footage of Michaels calling the last 10 seconds should be used.
Corrected entry: At the end of the movie when the flags are being raised, they raise the Swedish flag with the American and Russian flags. Sweden finished fourth in the Olympics, and Finland finished second, but the Finnish flag wasn't raised in the movie. Also the hockey team on the ice with the Russians and Americans wore yellow, but in the previous scene of the Americans beating Finland shows the Finns wearing a grey jersey with a purple/maroon siding.
Correction: This is correct, because even though the Americans played the Finns in the gold medal game, the Finns did not receive a medal. The medal standings were as follows: (Gold:USA, Silver:USSR, Bronze:Sweden). The flag being raised was the Swedish flag, and the team on the ice was the Swedes.