Houston's WNBA franchise closing down

The Houston Comets, who won the WNBA's first four championships (1997-2000), will close down this week.

The Comets had been owned by the WNBA since the middle of last season, but because a buyer couldn't be found the league made the decision to put the team out of business.

The Comets were originally owned by Leslie Alexander, owner of the Houston Rockets. He sold the team to a group headed by businessman Hilton Koch last year, but the league then took over the franchise.

It was reported there will be a dispersal draft next week for the players, who were still under contract with the Comets. The end of the Houston franchise leaves the WNBA with 13 teams for the 2009 season.