ELMIRA, N.Y. (WENY) -- The Elmira River Sharks are officially no more after the team announced on Thursday, May 16th that the team has been sold, will change its name and move to a new location in New York. The announcement was made on the River Sharks website. 

According to the team, that means the players will still have a team to play on, albeit with a new name and location. Exactly where the team is moving and what their new name will be will not be announced until May 20th. 

The statement released by the River Sharks reads in full, "The Elmira River Sharks would like to take the opportunity to thank our fans for your loyalty & support this past season. We are truly honored to have been part of the Elmira community. Although the offers we submitted to the arena were rejected, the offers that were made to us in return were not conducive to being able to sustain a professional hockey team in Elmira. So with that team was forced to shut down & cease operations.  However, the River Sharks franchise was recently purchased and will be moving to a new location in the state of New York so your former River Sharks players will have a new home.  That new team location & name will be announced on Monday May 20th.  Again, we want to thank the fans of Elmira for their continued support to our FPHL teams over the years.  It has been an honor and a privilege to be your team & part of your community."