Coached by Tim Sheens and captained by Ian Roberts, they competed in the breakaway News Limited-run competition, the Telstra Cup.
After an improved 1996 season, the club pulled off a major coup in signing three-time premiership winning coach Tim Sheens from the Canberra Raiders, who brought five players with him from his old club, including Australia and Queensland representative hooker Steve Walters.
The club, who were competing in News Limited's breakaway Super League competition, got off to a promising start after defeating the newly formed Adelaide Rams in the opening round of the season.
Back-to-back wins in Round 14 and 15 had the Cowboys sitting just four points outside the Top 5, but a three-game losing streak to end the season left the club languishing in last place.
In Super League, players were able to choose their own jersey number (regardless of their starting position), which they wore for the entire season.