The San Diego Sockers, winners of six...
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The San Diego Sockers, winners of six indoor soccer championships in the last seven years, will cease operations June 29 if new investors are not found to help the financially ailing franchise, team President Ron Cady said. The Sockers filed for Chapter 11 bankruptcy protection on April 25, listing debts of $1.5 million. Cady said that the Sockers need a $400,000 letter of credit and $300,000 in working capital to operate another season.
The Sockers aren’t the only Major Indoor Soccer League franchise in financial trouble. The Tacoma Stars announced that they will fold if the franchise can’t raise $500,000 by July 1.
