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Report: NASL’s Cosmos Millions in Debt, Wooing New Ownership

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Big Apple Soccer claims embattled second-division club seeks buyout amid rumors of collapse. Fate of NASL still uncertain.

2015 Lunar New Year Cup - South China v New York Cosmos Photo by Victor Fraile/Getty Images

What’s going on with the New York Cosmos?

Rumors have been flying at a fever pitch since the NASL board of governors met last week with U.S. Soccer President Sunil Gulati to discuss the future of the embattled second-division league.

A new report from Big Apple Soccer claims the flagship club is working to find new ownership in an eleventh-hour effort to stay afloat. The club would reportedly come with several million dollars of debt in tow.

The report further claims the Cosmos have completely ceased operations, including releasing players.

The Cosmos have been one of NASL’s most successful and high-profile team’s since joining the league in 2013. Recent struggles aside, the team made a number of splashy signings in an attempt to secure league titles and build a sustainable fan base.

Whether you think NASL should be the sole second-tier league in the U.S. soccer pyramid, we can all agree that any time a club struggles or fails is a loss for U.S. soccer as a whole. We need success at all levels of the pyramid to develop into a robust and long-lasting soccer nation.

Let’s hope the Cosmos can find a solution to these challenges and return to focusing on building a local soccer club.

Read Big Apple’s article here.