This was featured on Big Red Wrap-Up this week. They gave a quick history of how it came to Nebraska. I know there has been discussion about the exact wording so here is the version they offered:
Dear Lord,
In the battles we go through life
We ask for a chance that's fair
A chance to equal all our strife
A chance to do or dare.
And if we win, let it be by the code
With faith and honor held high.
And if we lose, let us stand by the road
And cheer as the winners go by.
Day by day we get better and better
A team that can't be beat
Won't be beat.