Owners Fold Dallas Entry in Major Soccer League

The Dallas Sidekicks of the Major Soccer League folded Monday, but owners said new investors will be sought to establish a new franchise in the city.

“The staggering financial reversals, a poor season and falling attendance left us no alternative,” majority owner Phil Cobb said after a meeting with players and front office personnel.

The decision to cease operations enables the franchise to continue to honor player and league contract commitments, as well as provide an opportunity to work with suppliers and creditors to resolve debt obligations, Cobb said.