Portland LumberJax ownership announced today that it will not continue to operate the franchise at the Rose Garden for the 2010 National Lacrosse League season.

"We are currently exploring options for the future," LumberJax executive vice president Brian Silcott said. "Right now there are several options for the franchise including a move to another market, accepting new partners and/or the outright sale of the franchise."

The problem, as it almost always is in these situations, rests with finances. A report in today's edition of the The Oregonian stated that the LumberJax suffered a $300,000 decline in sponsorships this past season, in addition to the loss of other services and revenue sources.

Silcott does not blame the economic recession for today's announcement.

The club faces a 1 June deadline to declare its intentions for next season, so expect a resolution in the next few weeks.

The most likely option appears to be a move to Seattle, according to The Oregonian.

Citing an anonymous team source, the paper reports that LumberJax owner Angela Batinovich addressed the team after Friday's season-ending loss to San Jose and the possibility of a move was discussed.

LumberJax brass has also been exploring bringing on additional ownership, and Silcott confirmed that the Portland Trail Blazers (NBA) had declined such an offer.

One outcome that seems very unlikely is the team shutting down.

"A tremendous amount has been put into this both on the financial side and the emotional and personal side by Angela and her family," Silcott said. "The prospect of letting it go is not being looked at favorably."

The LumberJax joined the NLL in 2006, winning the Western Division regular season title in its first season and reaching the playoffs three times in four seasons.