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FINANCIAL PROBLEMS FORCE THUNDERBOLTS TO FOLD
Published March 8, 1995
The Cleveland Thunderbolts have ceased operations as a member of the Arena Football League citing "financial problems." AFL spokesperson Mike Jackowski: "The Arena Football League certainly would like to have a franchise in Cleveland. It just couldn't happen, for financial reasons, under the scenario of the current ownership group." The league is not ruling out, however, the possibility of the city being a "candidate for expansion" in '96 (Dennis Manoloff, Cleveland PLAIN DEALER, 3/7).