[1] The Mustangs won the PFLA championship in their second season by defeating the Des Moines Warriors in a playoff game in front of 4,530 spectators.
Omaha moved to the Continental Football League for the 1968 season and finished 7–5 in the Central Division.
In September 1968, Glen Hepburn, a two-way player for the Mustangs, died from injuries sustained in a game.
[3] On December 15, 1969, the COFL revoked Omaha's franchise for failure to meet the league's financial obligations.
In February 1971 the Mustangs announced they would be joining the Midwest Professional Football League.