Power Out: Pittsburgh's Arena Football League Team Folds

I read this in the Post-Gazette yesterday. Came to me as a total shock. The team must not have been making any $ or losing a lot of it. Too bad for the AFL in Pittsburgh. This is the second franchise the city has lost in Arena Football, the other being the Pittsburgh Gladiators.
http://www.post-gazette.com/sports/o...s/201411170178
"By Craig Meyer / Pittsburgh Post-Gazette
The Pittsburgh Power, a member of the Arena Football League, announced Monday that it will cease operations after four seasons.
The franchise was founded in 2010 after a partnership was struck by entrepreneur Matt Shaner and former Steelers star Lynn Swann. Trib Total Media purchased a multimillion-dollar stake in the ownership group in 2014.
Though the team’s time in Pittsburgh was largely marred by shortcomings on the field, it seemingly had turned a corner in 2014, a season in which it went 15-4 and made its first appearance in the AFL playoffs, where it lost in the first round to the Orlando Predators, 56-48.
“We would like to thank the city of Pittsburgh and the Power fan base for their support,” Shaner said in a statement. “Pittsburgh is a great sports town, and a phenomenal city to play for.
“We enjoyed each of the four seasons we played at the Consol Energy Center. We would also like to thank our corporate partners for the unwavering support they have given us throughout the years.”
In its four seasons, it compiled a record of 33-40.
Despite the subpar record, the timing of the franchise’s end is curious.
Before the 2014 season, the team’s roster was overhauled with the addition of high-profile acquisitions such as quarterback Tommy Grady, defensive back Virgil Gray and wide receiver Prechae Rodriguez, among others, moves that helped lead it to the postseason and give the indication it was headed in the right direction.
Even before those moves, it had signed an extension on its lease with Consol Energy Center through the 2016 season.
Even with success this season, the franchise still struggled to draw large crowds. Despite putting together the most decorated season in franchise history, the Power’s average attendance was 6,370, ranking it 11th among 14 AFL teams.
With the announcement, the Power became the second arena football team in a 30-year span in Pittsburgh whose stay came to an unremarkable end. The Gladiators played for four seasons, from 1987-90, before moving to Tampa, Fla., in 1991.
All season ticket sales from the 2015 season will be refunded in full.
Shaner, team president Peter Hill, vice president Calvin Jackson, director of player personnel Brad Wittke and head coach Ron James did not return calls asking for comment."