In 1984, as owner of the L.A. Express of the USFL Professional Football League, Oldenburg inked the biggest contract in history with the signing of a forty million dollar contract with Steve Young of Brigham Young University. Young later went on to be voted MVP as he led the San Francisco 49ers to the Super Bowl Championship in 1994.
The USFL was made up of 18 teams, including the New Jersey Generals, owned by Donald Trump, and the L.A. Express, owned by Bill Oldenburg. Between them they signed a number of other “First Round” draft choices, including Mark Adikes, Gary Zimmerman, Jo Jo Townsell, Mel Grey, Tony Zendehaus, Lawrence Taylor, Doug Flutie, and Hershel Walker.
The L.A. Express front office included Don Klosterman as President and General Manager, and John Hadl as Head Coach. Joining this elite group of Oldenburg's front office was the legendary Sid Gillman, a Hall of Fame Inductee, who is generally regarded as the father of the modern passing game. Oldenburg brought Gillman out of retirement specifically to be the private quarterback coach for Steve Young.