The Long Beach StingRays, who advanced to the American Basketball League finals in their only season, have disbanded.
"We're doing what every responsible corporation in America does -- look for ways to improve the bottom line," ABL chief operating officer and co-founder Gary Cavalli said. "This decision to close the doors in Long Beach is part of our ongoing effort to streamline operations, reduce expenses and improve profitability.
"Unfortunately, this is a business, and revenues from season ticket sales and corporate sponsorship in Long Beach have fallen well short of expectations," he said.
"I've had more calls from the media today since the day we started," said Linda Reid, the women's team's media relations director. "I'm really disappointed. I'm really angry, too. We weren't given all the tools to succeed."