The Texas Tornado North American Hockey League franchise is relocating to the NYTEX Sports Centre, 8851 Ice House Dr., in North Richland Hills and will operate under the NYTEX ownership group, said Chris Laurie, representing former team owner Consolidated Sports Holdings.
"Ultimately the decision to sell is the result of financial losses the team has endured over the course of the past three years," Laurie said.
The franchise will be named the Lone Star Brahmas and players from the Texas Tornado team will move with the franchise, according to Laurie.
Those who purchased 2013-14 season tickets will be refunded through the mail.
The team started in North Richland Hills in 1999. It was moved to Frisco in 2003 and bought by Consolidated Sports Holdings in 2010.
Average attendance in the 2012-13 season for a Tornado Hockey game was 1,799. In 30 games, 53,979 people watched the team play, according to North American Hockey League statistics.
"We would like to thank the fans, volunteers, corporate partners and the community for all their support throughout the last three years," Laurie said.