The team that won the first four WNBA championships is disbanding.
The Houston Comets will be shut down because new owners could not be found for the team.
Houston Rockets owner Leslie Alexander sold the team to Houston businessman Hilton Koch last year. The WNBA took over the franchise earlier this year.
League president Donna Orender said a new owner needed to be in place before the end of the year if the Comets wanted to stay in business. The sluggish economy slowed that process and Orender announced the franchise will fold.
"It's a sad day for me personally and, of course, for the city of Houston," former Comets Coach Van Chancellor told KPRC Local 2 Sports Monday evening. "We had a terrific run and I really feel for the fans who won't have the Comets in town to support anymore."
The Comets were one of the original teams when the WNBA debuted in 1997 and won the league's first four championships under the leadership of Chancellor on the bench and the combination of Sheryl Swoopes, Tina Thompson and Cynthia Cooper on the floor.
Orender said there is no indication that any of the league's other 13 franchises are in any trouble.
Source: KPRC Houston
