After losing the original Colts team after the 1950 season, the city of Baltimore petitioned the NFL for another franchise. Around this time, NFL Commissioner Bert Bell wanted to find a new home for the Dallas Texans, an NFL expansion team that folded after one failed season in 1952. Bell sought a competitive new owner with financial resources. From their days together at Penn, Bell thought Rosenbloom would be a great fit. Though Rosenbloom was hesitant at first to own a franchise, he relented and bought the team along with a group of other investors. Rosenbloom's share cost him $13,000. In January 1953, the NFL awarded the city of Baltimore the franchise, with Rosenbloom as the principal owner.