contract commencing in 1966 and a pro rata share each year thereafter while Atlanta holds a franchise."


15
Five Smiths was incorporated in August 1965.  The new corporation participated in the college draft for rookie players that November, and was granted draft-choice privileges.  On February 14, 1966, after Five Smiths had obtained a lease on the Atlanta stadium, the member teams of the NFL authorized Commissioner Rozelle to execute a formal agreement with Five Smiths for the consummation of the Atlanta deal.  The member teams and Five Smiths also reached agreement on a formula for the expansion draft, in which Atlanta was to acquire the forty-two veteran players from the other teams.5 Those players who were so acquired had a total of 149 years of prior NFLexperience.  At the start of the 1966 season, twenty-five of them were on Atlanta's active roster, and all of those played at least occasionally during the season.6


16
The television rights acquired under the February 14, 1966 agreement specified in article VIII, paragraph (f), in terms similar to the previously-quoted provision of the June 29, 1965 letter of understanding, that Smith would participate equally with the other NFL clubs in "any Single Network television contract(s) hereafter executed by the League for the year 1966 and thereafter during the time the Atlanta Club continues as a member of the League."  This provision must be considered in the context in which it was written.  Television rights were owned by the member teams individually, rather than by the League; however,