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Report: NASL’s New York Cosmos terminate all player contracts

2015 Lunar New Year Cup - South China v New York Cosmos

SO KON PO, HONG KONG SAR - FEBRUARY 19: Daniel Szetela (R) of New York Cosmos and Siu Kwan Chan of South China in action during the 2015 Lunar New Year Cup match between South China and the New York Cosmos at Hong Kong Stadium on February 19, 2015 in So Kon Po, Hong Kong. (Photo by Victor Fraile/Getty Images)

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As we await the future of both the North American Soccer League and its champion New York Cosmos, another dark cloud arrived regarding both.

Empire of Soccer reports that the Cosmos have terminated all of its player contracts, putting a 2017 season into the neighborhood of improbability.

[ MORE: Atlanta signs second DP ]

New York’s staff is on furlough, and the club has been “on the brink of collapse” for weeks (if not longer).

The USL avoided having its champion collapse by finding new owners for the Rochester Rhinos in the offseason. Will New York be able to do the same?

Follow @NicholasMendola