What do students perceive they are learning in the online setting? Using students open-ended comments on the Student Assessment of Instruction (SAI) instrument, researchers employed a case study approach to explore students’ perceptions of instruction in the online and face-to-face settings in an undergraduate sport management course at a regional comprehensive university in the North Carolina state system. Qualitative results indicated that online students highlighted that the types of assignments were interesting and the structure of the course was helpful toward understanding expectations. Face-to-face students highlighted learning, having enjoyed learning, and the knowledge and enthusiasm of the professor. Thematic results revealed that online students distinguished the administrative aspects of instruction; whereas, students in the face-to-face setting expressed themes centered on the conceptual or theoretical aspects of instruction. The themes identified in this case study offer guidance to educators who are interested in refining their online courses so as to stimulate students conceptual and theoretical learning.