Factual error: Champ Cars run on Methanol which 1) burns with an invisible flame and 2) is extinguished by water. Therefore the car in the lake crash sequence would not burn or explode like that.
Factual error: During most of the basketball games, you can see an American flag in the background. This is not the problem, the problem is that it is hung wrong, the stars should always be on the top LEFT not RIGHT.
Factual error: One sweep through the town shows a Dodge Durango in a parking lot. The movie takes place in 1988; the first Dodge Durango was the 1998 model, ten years later. (00:34:15)
Factual error: There indeed was a moment in the game (vs. USSR) where Jim Craig was shaken up, but contrary to what's shown in the movie, the hit did not happen as the Soviets scored a goal. Furthermore, if a goalie is that flagrantly knocked down and out so that a teammate can get a shot off, it should be a two-minute penalty for "goaltender interference" and the goal disallowed.
Factual error: The poem Ali quotes in the movie before the Frazier fight, "Ali comes out to meet Frazier, Frazier starts to retreat, If he goes back any further, He'll end up in a ringside seat..." was in fact the poem he used before the first Liston fight and began, "Clay comes out to meet Liston, Liston starts to retreat..." and ends with the lines, "Never did they think, When they laid down their money, That they would witness, The total eclipse of the Sonny". Poor effort.
Factual error: In the shot of the infield at the Saratoga racetrack several Canada geese are shown landing. However, the calls inserted on the soundtrack are the quacks of mallard ducks not the honks of Canada geese.
Factual error: For a baseball movie, you would think they would have known the rules of the game better. There is a scene in which Henry uses the "hidden ball trick" to pick a runner off of first base. He stands on the rubber on the mound with only the rosin bag in his hand while the first basemen holds the ball. It is a violation for him to stand on the rubber or straddle it without the ball in his hand and is called a "balk". Technically the runner should have been awarded second base.
Factual error: Another flag gaffe: The Canadian flag in the 1920s was either the red ensign or the Union Jack. The Maple Leaf only became the national flag in 1965.
Factual error: During the movie, Doug watches video from the previous Olympic competition. The skaters are shown performing in a darkened arena lit by spotlights. Special lighting effects like this are not allowed in competition. All competitions take place in a brightly lit arena.
Factual error: Early in the movie we see the newspaper dated "Sunday, March 14, 1987". March 14, 1987 was a Saturday, not a Sunday.
Factual error: The third member of the Yankees with a prominent role in the film is Bob Cerv (roommate of Mickey & Roger). In the film, he is with the team from Opening Day. However, Cerv was actually acquired by the Yankees in May of that year.
Factual error: One of the first races that Cole runs is Phoenix. Phoenix International Raceway is a very flat track. There are several shots in that segment showing a high-banked oval.
Factual error: At the beginning of the movie when all the guys are in the barber shop, a man is wearing a John Deere hat with the modern logo, not the one from 1976.