The Heat Group, owner's of the Miami team which has been in the WNBA for three seasons, said the league's decision to place the responsibility of finding corporate sponsorships and paying players' salaries in the hands of individual teams had forced the closure.
Under the previous regime, the league had taken all the responsibility for paying the players and finding the most national corporate sponsors.
"That model will work well for the league with cities that have good corporate bases," said Eric Woolworth, Heat Group's president of business operations. "The model, ultimately in Miami, is not going to work.
"Most of the sports teams in this market work very hard to get national corporate dollars for support, and that's difficult for us with the Sol."
Traci Cook, the league's senior director of communications stated: "When we took the vote in October we anticipated that the new structure would not work for certain NBA owners. In the long term it will put WNBA teams where they can be more successful."
The league will now take control of the Miami Sol franchise but has yet to comment on whether it would be moved or dissolved. A decision is expected early next year.
WNBA franchise the Miami Sol has closed down citing the league's recent restructuring as the main reason for the women's basketball team's demise.
