Heisman Trophy Power Rankings 2023, Week 8: Penix struggles, McCarthy keeps climbing

What a weekend in college football. For those who are fans of the most chaotic outcomes imaginable, this was the week for you. Seriously, there was so much that took place. North Carolina picked up their first loss of the season against then-one-win Virginia. USC extended their losing streak to two games with a loss to Utah. Iowa lost 12-10 to Minnesota after a punt return touchdown was overruled.

Given the results this weekend, that means ranking the Heisman candidates became that much more interesting. Who rises up the rankings? Who tumbles down the list? Is Michael Penix Jr. still the favorite? Or has a new name taken the top spot?

Let's look at the Week 8 edition of the 2023 Heisman Trophy Power Rankings.

Heisman Trophy Power Rankings 2023, Week 8 edition

Quinn Ewers and Texas made their return from the bye after a heartbreaking loss to the Oklahoma Sooners in the Red River Showdown. They looked to increase their chances of making it to the Big 12 Championship Game with a win over the Houston Cougars.

Ewers played well on Saturday afternoon, but there's now concern about his status for the rest of the season. In the second half, Ewers lowered his shoulder on a scramble but was met with a tackle by Houston defensive lineman David Ugwoegbu. Ewers tried to play through it before walking to the locker room for treatment. Ewers would return to the sidelines, wearing street clothes and a sling on his right arm.

Prior to the injury, Ewers had completed 23-of-29 pass attempts for 211 yards and two touchdowns. Texas would survive in Week 8, escaping with a 31-24 win over Houston.

Texas head coach Steve Sarkisian revealed they'll know more about Ewers' injury on Sunday. From there, we should get a better idea of if Ewers is dealing with a serious injury and if he will miss time.

The Colorado Buffaloes entered their bye this week with a 4-3 record following their stunning loss to the Stanford Cardinal. Even with that loss, Colorado has accomplished plenty in the first year with head coach Deion Sanders. They far surpassed their win total from the year prior (one) and pulled off some big wins over TCU, Nebraska, and Colorado State. But with a 4-3 record, Colorado's path to a bowl game is tough.

Regardless of what happens, quarterback Shedeur Sanders has played tremendously in his first season in a Power Five conference. Sanders threw for 2,420 yards, 21 touchdowns, and three interceptions while completing 72.3 percent of his passes.

Sanders and the Buffaloes return next week when they take on the UCLA Bruins.