How was The Color of Money connected to The Hustler?

The Color of Money (1986) is the direct sequel to the 1961 film The Hustler. Both films are connected by the character "Fast Eddie" Felson, a pool hustler portrayed by Paul Newman.123

While The Hustler depicts Felson as a brash young man making a name for himself in the world of competitive pool, The Color of Money features an older, retired Felson who mentors a talented young pool shark named Vincent Lauria, played by Tom Cruise. The 1986 film was based on the sequel novel written by Walter Tevis, who also authored the original book that inspired The Hustler. Paul Newman’s performance as Felson in The Color of Money earned him an Academy Award for Best Actor, a recognition he had not received for the original film.132