Cheshire Jets have had their British Basketball League franchise withdrawn with immediate effect by the league's Franchise Committee.
It comes after new owner Haydn Cook requested to the BBL that next Sunday's game against Mersey Tigers could be postponed. The league are looking into this matter and hope to make a further announcement in the coming days.
Cook, who saved the north-west outfit from going out of business last month found that the costs of running a basketball club like the Jets were more than he bargained for. He went to the BBL and asked for Sunday's derby game against fellow strugglers Mersey Tigers to be postponed which prompted the league's Franchise Committee to act.
"I tried," Cook told the Chester Chronicle. "I had a lot of support, particularly from our sponsor Terry Hearfield who has been fantastic, but in the end the costs just didn't add up. Given a couple of years we maybe could have made it work but I could not keep it going for that long."
Cook will be sending the players home, refunding all the season ticket money and there will be no more Jets games this season.
Cheshire Jets were sitting in tenth place in the BBL with a 1-5 record before today's news.