When Iowa State won the Big 12 title, it was a fitting end to the era of college basketball that’s come to an end.
IOWA STATE basketball has gone out of business.
The Iowa State men’s basketball team has been shut down for a period of time and the women’s basketball program has been folded into the Iowa State University System.
The university announced the closure of the men’s and women’s programs on Thursday, according to The Des Moines Register.
Iowa State has not had a basketball program since 2006 and was the last to have a women’s program, the Register reported.
The men’s program folded in 2016.
A statement from the university said it was made “without any fanfare or fanfare alone” and had not received any bids to purchase the men, women or women’s sports teams from private equity firms.
It also said the university had not filed for bankruptcy protection.
“The university’s continued failure to maintain and expand its athletics programs and the financial distress resulting from this loss of revenue and asset will result in significant financial, economic and legal ramifications for the university,” the statement said.
Former Iowa State coach Kevin Keatts resigned on Monday as the men were unable to win a Big 12 championship and the NCAA has closed the door on the school’s football program.
More than 3,500 people attended a rally in front of the Iowa state Capitol on Thursday night to protest the decision.
The rally was part of a larger effort to shut down Iowa state institutions from the NCAA to the Iowa Supreme Court.
“This is the last chance we have at keeping our schools open and the last shot at saving these programs,” one man said at the rally.