At Hayward Field in Eugene, Oregon, Christine 'Chris' Cahill, portrayed by Mariel Hemingway, is determined to succeed as she participates in the Olympic Trials for the 1976 Summer Olympics. After a disappointing performance in the hurdles event, Chris finds herself in tears as she seeks comfort from her father, Rick Cahill, played by Larry Pennell, who also serves as her coach. On the other side of the field, Tory Skinner, enacted by Patrice Donnelly, secures second place in the pentathlon, earning her a coveted spot on the Olympic team.
That evening, Tory enjoys a celebratory dinner with her friend, Roscoe Travis, portrayed by Jim Moody, along with a few others. Amidst the festivities, Rick comes over to congratulate Tory, but Chris, feeling disheartened, opts to stay behind and walk home. However, her night takes a turn when she experiences a fainting spell in the restroom, prompting Tory and Roscoe to come to her aid. In an act of kindness, Tory offers Chris a ride home, during which Chris emotionally congratulates Tory on her achievement. Instead of heading straight home, Chris finds herself in Tory's room, where the two share a moment of vulnerability, indulge in some marijuana, engage in an arm-wrestling challenge, and ultimately end up making love. In their intimate moment, Chris confesses that she is not a lesbian but was merely curious, while Tory acknowledges her own identity as a lesbian, expressing surprise yet delight in their attraction and ensuing romance.
Their journey continues a few days later as Chris travels with Tory to San Luis Obispo, California, where Tory attends California Polytechnic State University. Here, they share training sessions and Tory proposes that Chris work with her coach, Terry Tingloff, portrayed by Scott Glenn. Upon returning home, Chris seeks permission from her father to study at California Polytechnic so she can train with the team, but he questions her about the scholarship she was awarded, to which Chris admits there is none. Despite this, Chris ventures back to San Luis Obispo, but Tingloff hesitates to accept her as a protégé and only allows her to train with the team.
Two months pass, and with Tory's persistence, Tingloff finally permits Chris to race during practice. Although Chris has a rocky start by falling off her blocks, she manages to catch up and finish in third place. Fast forward to 1978, Chris and Tory are set to compete in the World Student Games in Cali, Colombia. Unfortunately, just before the event, Chris suffers from food poisoning due to a piece of local fruit. A caring medical student provides opium to ease her pain, and Tory stays up all night to look after her. Despite this, Chris excels in her hurdles competition the following day. At a post-event party filled with drinks and relaxation, Tory feels a pang of jealousy as she observes Chris flirting with a male athlete, but Chris is resolute in her decision to stay and have fun.
Upon returning to San Luis Obispo, Tingloff finds Chris stretching and attends to her cramp with genuine care. He is impressed with her potential and offers her full tuition for the next academic year, contingent on her training with him over the summer and shifting her focus to the pentathlon. Although Chris is anxious about competing against Tory in this new event, she eventually agrees, leading to a deeper bond with Tingloff, one that catches Tory's attention. However, their training takes a tumultuous turn when Chris sustains a knee injury after attempting Tory's advice during high jump practice. Tingloff, believing Tory to be a distraction, becomes frustrated, creating a wedge between Chris and Tory.
In the wake of her injury, Chris resolves to strengthen her knee through swimming, where she meets water polo player Denny Stites, played by Kenny Moore. As they grow closer, Chris learns of Denny's past achievements, including his Olympic gold medal, which prompts discussions regarding her own athletic milestones. Their budding relationship causes further complication with Tory, leading Chris to navigate her loyalties and ambitions.
By 1980, the Olympic Trials once again bring Chris, Tory, and their teammates to Hayward Field. With the impending boycott of the 1980 Summer Olympics in Moscow looming, the stakes are higher than ever. In an intense showdown during the pentathlon trials, both Tory and Chris fight valiantly for their Olympic dreams. Faced with adversity, Chris struggles during the hurdles and shot put events but perseveres and achieves a personal best in the high jump. After enduring a rain delay, Chris rallies her spirit as Tory suffers a setback, injuring her knee.
In a suspenseful climax, Tory's determination leads her to participate in the final 800-meter race even after her injury. With Chris in second and Tory in fourth, both athletes push their limits, resulting in an exalting finish where Chris embraces Tory after crossing the line. In a triumphant moment for both, they secure spots on the United States Olympic team, coming in second and third in the overall standings, respectively, with their teammate, Nadia 'Pooch' Anderson, taking first position. The film concludes with a stunning scene where Chris, Tory, and Pooch celebrate their accomplishments on the podium, and as they bask in victory, Tory observes Chris's new male interest, playfully remarking that Denny is quite cute… for a man.
