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CHARLOTTE, N.C. (AP) -- The WNBA's Charlotte Sting folded Wednesday, three weeks after the Bobcats gave up control of the team.
The WNBA was unsuccessful in finding a buyer for the Sting, one of the original eight franchises.
"It was driven by economics, certainly not philosophy," said Greg Economou, the Bobcats' chief marketing officer. "We believe in the women's game. If it could work here we'd be all for it. The situation we're in is trying to build the Bobcats' brand. It was difficult to absorb losing as much money as we were on the Sting side to continue."