After four years in Colorado Springs, the Gold Kings professional hockey team has suspended operations effective immediately. The team will also withdraw from the upcoming 2002-2003 West Coast Hockey League.

Team owner Jeff Smith released a statement Thursday afternoon, announcing the decision. In it, Smith says the decision was made after "considerable discussions" within the league and much "soul searching" among the team ownership group. "We have been extremely proud of the quality of product that has been put on the ice over these past 4 seasons," Smith said. "The talent and integrity of individuals that make up the Gold Kings organization represent a real asset to the Colorado Springs sports community. However, given the current economic environment and the opportunity to pursue possible acquisition of the Sky Sox, we felt that a focus on our core businesses and profitable ventures needs to be a priority."

Jeff Smith is associated with Classic Homes, which is now interested in buying the Colorado Springs Sky Sox minor league baseball team. If that deal should go through, Classic Homes management may consider trying to move the team to a new stadium in the downtown area.

For ticketholders and sponsors of the Gold Kings, team management is now trying to arrange for refunds. For information, contact Karen Reece at 719-268-7172.