The club had been under league administration for the past year after its owner withdrew his support following a debut season in which the club lost millions of dollars.
Football Federation Australia (FFA) supported Fury for the A-League's 2010-11 season, but insisted that the club had to raise enough capital to justify its continued participation in the tournament.
“The decision was determined after considering the financial position of the club for season 2011-12 as too big of a financial risk for FFA to undertake,” read a statement from the FFA chief executive Ben Buckley. “Despite the hard work put in, the target of A$1.5 million of capital from the Retain the Fury campaign was not met, with less than A$300,000 being pledged.”
He added: “Whilst the club and the advisory board had attracted some very encouraging sponsorship commitments, the projected loss to run the club next season is still in our assessment in excess of A$2 million.”
According to local media reports, the FFA invested between A$7-9 million into Fury during its turbulent two seasons in the A-League. Administrators had planned to expand the league to 12 teams next season with the addition of a second Sydney side, but the plan was scrapped due to financial concerns.
