After one year of existence, the Aiken Foxhounds and the rest of the South Coast League announced Friday it will suspend operations on April 1.

"Recent developments within the company as well as lengthy discussions with the entire ownership group led to the decision that was handed down to league officials and the markets currently home to the league's teams," a news release from the league office said. "Like many businesses caught in the economic downturn, the South Coast League has not been able to close on a sufficient amount of debt and equity financing to ensure a successful 2008 season."

The decision was made by the South Coast League's ownership group Friday afternoon and confirmed many of the rumors about the independent league's future since SCL co-founder and CEO Jamie Toole announced his resignation on Tuesday.

Six teams participated in the inaugural season last summer, but financial troubles, the loss of two teams and the resignation of Toole, Anderson Joes general manager Garrett Ball and Aiken Foxhounds general manager Bradley Bell have marred the off-season.

The league announced plans last month for a four-team season with the Aiken Foxhounds, Macon Music, Anderson Joes and South Georgia Peanuts. However, water and electricity to Luther Williams Field, the home of the Music, has been shut off by the city due to unpaid bills.

"I can't speak for the ownership on outstanding debts, but it's their intent to get all this cleaned up," league chief development officer J.D. Hardin said. "If we're smart business people then I think we're doing the right thing here because we're not trying to play another year and have it end up like last year where we're in more debt. Things are bad with the economy right now, and that catches everybody."

The Foxhounds, who played at USC Aiken's Roberto Hernandez Stadium last season, still owed at least a portion of the $30,000 lease to use the facilities plus an additional $50,000 to fulfill an agreement to help put a roof on the school's batting cages.

"That's another issue," Hardin said. "The ownership group is aware of that. They know about it."

The Foxhounds reported around 300 season ticket holders for the 2008 season earlier this month. Foxhounds assistant general manager Scott Lefler said on Friday those season ticket holders aren't necessarily out of luck.

"What (the league) told us is we're going to do inventory, and the league is going to do their best to reimburse the season ticket holders," Lefler said.

The press release indicated the league, along with its four current teams, was for sale and new ownership could provide enough support to bring the league back for a 2009 season.

"We don't want to leave a bad taste in people's mouths," Hardin said. "We want people to remember the good things about the league and the Foxhounds and that means getting things paid off. We would love to be back in our current markets in 2009."