USFL
Fairbanks resigned from CU on June 1, 1982 to accept the head coaching position with the New Jersey Generals of the fledgling USFL.
Even before coaching his first game in the new league, Fairbanks once again found himself immersed in controversy. Georgia junior Herschel Walker, the reigning Heisman Trophy winner, signed with the Generals on February 23, 1983, violating the NCAA's then-unwritten rule to not sign players before they had completed their eligibility.
His time at the helm in New Jersey, like his tenure at Colorado, was met with little success on the field as the Generals finished the 1983 USFL season with a 6–12 record. The poor showing led to Fairbanks' firing. The innovative but scandal-marred coach never again served as either a college or professional coach, but instead worked in the real estate and Golf Course Development Business that included the development of PGA WEST and many other successful California and Arizona communities.
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