Dec 02, 2008 9:49 AM EST

The Houston Comets of the WNBA will disband because new ownership couldn't be found.

"You have to build on strength," WNBA president Donna Orender said. "My outlook is to build on the fact that the league has great momentum and in Houston we didn't have the enough runway to get a deal done in time for the 2009 season. So right now we have to move on."

The WNBA will officially announce the move on Tuesday, which will result in the loss of 37 jobs.

The Comets won the first four league championships.

Via NBA.com