After a month of intrigue and speculation, and the near-certainty that the franchise would go to Atlanta, the American Football League awarded a franchise to Oakland, replacing the abandoned Minneapolis/St Paul franchise. Most sources gave Chargers owner Barron Hilton the lion's share of the credit for persuading his fellow owners to choose Oakland. Of the eight men who pooled their resources to provide financial support for the team, five of them were land developers or contractors: Ed McGah, Art Beckett, Charles Harney, Chet Soda, and Wayne Valley. Stockbroker Don Blessing was part of the group and had achieved the most fame of the group in the sporting world as the gold medal-winning coxswain in rowing eights at the 1928 Olympics in Amsterdam. Robert Osborne, the owner of a manufacturing firm was also an Oakland City Council member and rounding out the group was restaurateur Harvey Binns.

They had no coaches, no players, and no idea where they might play their games, but they had a team. The AFL said the signing rights to college players drafted by the Minneapolis/St Paul team would be transferred to Oakland, but other AFL teams had already signed some of them in the interim and it was anyone's guess how that mess might be cleaned up.

Franchise awarded by AFL

Art Beckett
Harvey Binns
Don Blessing
Charles Harney
Ed McGah
Robert Osborne
Chet Soda
Wayne Valley

Signing rights assigned by AFL

CJ Alexander HB Southeastern Louisiana (signed by Edmonton, Jan 6)
Jim Andreotti C Northwestern
Pervis Atkins HB New Mexico State
Al Bansavage OL USC
Maxie Baughan C Georgia Tech (signed by the Eagles, Jan 15)
Walter Beach HB Central Michigan
George Blanch HB Texas (signed by the Oilers sometime in January)
Clord Boyette OL Texas Southern (signed by the Oilers sometime in January)
Willie Boykin T Michigan State (signed by the Oilers sometime in January)
George Boynton HB East Texas State
Johnny Brewer E Mississippi
Carmen Cavalli DE Richmond (signed by the Bills sometime in January)
Jim Chastain OL Michigan State (signed by Dallas (AFL), Jan 7)
Fran Curci QB Miami FL (signed by Dallas (AFL), Jan 21)
Carroll Dale E Virginia Tech
Purcell Daniels FB Pepperdine (signed by the Oilers sometime in January)
Don Deskins T Michigan
Leon Dombrowski OL Delaware
Dan Edgington E Florida (signed by Boston sometime in January)
Howard Evans C Houston
Ken Fitch T Kansas
Dale Hackbart QB Wisconsin
Fred Hageman C Kansas
Abner Haynes HB North Texas State (signed by Dallas, Dec 31, 1959, after his rights were traded to them by Minneapolis/St Paul)
Bill Herron E Georgia (signed by the Redskins, Jan 6)
Vin Hogan HB Boston College
Bob Hogue OL Shepherd
Bob Jarus HB Purdue
Earl Kohlhaas G Penn State
Bobby Lackey QB Texas (signed by the Steelers, Jan 11)
Gerald Lambert OL Texas A&I
Neil MacLean FB Wake Forest
Sam McCord QB East Texas State (signed by Minneapolis/St Paul before team's demise, then signed by Oilers sometime in January)
Rich Mostardi HB Kent State
Larry Muff E St Benedict's
Don Norton E Iowa (signed by the Chargers, Jan 12)
Jim O'Brien T Boston College (signed by the Lions, Jan 12)
Jim Otto C Miami FL
Bob Parker OL East Texas State (signed by the Oilers sometime in January)
Charles Pollard E Rice
Tony Polychronis OL Utah
Billy Roland G Georgia (signed by the Redskins, Jan 6)
Dan Sheehan OL Tennessee-Chattanooga
Ray Smith FB UCLA (signed by Saskatchewan, Jan 28)
Wade Smith HB North Carolina
Jerry Stalcup G Wisconsin (signed by the Rams, Jan 2)
Howard Turley E Louisville
John Wilcox T Oregon (signed by the Eagles, Jan 21)
Jim Williams OL North Carolina
Al Witcher E Baylor
Jim Woodard OL Lamar (signed by the Oilers sometime in January)
Silas Woods HB Marquette
Mike Wright T Minnesota