On February 2, 1967, Houston was awarded a franchise for $30,000 with William Whitmore, Charles Frazier and Cloyce Box being the buyers.
Morrow and Bud Adams, owner of a Houston-based oil company and the AFL's Houston Oilers bought Box's interest in the team.
Despite all of this, the Mavericks spiraled into the playoffs, in part due to 8 of the 11 teams in the new league being guaranteed a spot into the Playoffs, with Houston getting the final spot by 4 games.
In the Semifinals, they were swept by the Dallas Chaparrals in 3 games.
[1] Western Division Semifinals[2] Mavericks lose series 3–0 1968 ABA All-Star Game selections (game played on January 9, 1968)