Aug. 8, 1962 - Billy Cannon signed a new contract for more than $100,000 with the Houston Oilers today, and officials of the American Football League hinted the action was prompted by overtures from the rival NFL. The original contract signed by the 1959 Heisman Trophy winner from Louisiana State extended through the 1962 season. The new contract extends through the 1965 season. Cannon denied having been approached by any NFL club, but Oiler sources said there had been reports the NFL had set up a system to determine which team would get the rights for the halfback’s services if he could be lured away from the Oilers. The first three-year contract prompted a Federal Court fight between the Oilers and the Los Angeles Rams. “I wanted to play in Houston when I came here, and I see no reason to change,” Cannon said.
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