At a news conference on Tuesday night, Augusta Lynx ownership announced their intentions to fold the team, saying they turned in their membership to the ECHL at 5 p.m.
"We looked long and hard in someone to invest in the Lynx and we have been unsuccessful in that," co-owner and general manager Dan Troutman said.
A statement posted on the ECHL's Web site said, the Augusta Lynx have suspended operations, effective immediately and voluntarily relinquished their membership back to the League.
We are very disappointed for our fans, league partners and the other member teams of the ECHL, league commissioner Brian McKenna said in the release. The ECHL would like to thank the Lynx fans for all of their support.