Coached by Graham Murray and captained by Johnathan Thurston, they competed in the NRL's Telstra Premiership.
They finished the regular season in 3rd place, falling one game short of the Grand Final after losing to the Manly-Warringah Sea Eagles.
News Limited took over the club in late 2001, helping it through a turbulent and difficult era.
2007 also saw the debut of 19-year-old Scott Bolton, who would go on to play over 150 games for the Cowboys and be a member of their 2015 NRL Grand Final and 2016 World Club Challenge winning sides.
Source:[1] The following players played a representative match in 2007 19°18′58″S 146°42′43″E / 19.31611°S 146.71194°E / -19.31611; 146.71194 (Willow Sports Complex)