After the Pittsburgh Condors and Floridians folded, the ABA was left with nine teams, wanting to stay a viable league with at least ten teams, the league awarded an expansion team to play in San Diego, who had recently seen the Rockets, who was their NBA team blast off for Houston. The team which would be named the Conquistadors was owned by Dentist Dr.

Leonard Bloom, president of the United States Capital Corporation, who paid a $1 million entry fee. The Conquistadors also called the Q's would be the only expansion team in the ABA's nine seasons In a special expansion draft the Conquistadors selected Red Robbins from the Utah Stars, Gene Moore and Ollie Taylor from the New York Nets, Stew Johnson & Larry Miller from the Carolina Cougars, and Chuck Williams from the Denver Rockets.

One problem the Q's had in their first season was finding a home, as a feud between Leonard Bloom and Peter Graham, manager of the city-owned San Diego Sports Arena left them locked out of San Diego's best facility. Playing their home games in Peterson Gym on the campus of San Diego State, the Q's who were coached by K.

C. Jones faced the Denver Rockets in their first game on October 12th, losing 109-100.

However, they would win their next five games, as they played nine of their first ten games at home. As it began to even out the Conquistadors began to resemble an expansion team, as the endured a ten game losing streak and a nine game losing streak.

Despite it all the Conquistadors still managed to slip into the playoffs, as the finished in fourth place with a record of 30-54. The Q's would make a quick exit from the playoffs as they were swept by the Utah Stars.