PEEL Holdings have committed themselves to ice hockey at Blackburn Arena and believe youth development will be the key to a bright future.

Fans have expressed their concern that the Blackburn Hawks could be about to fold.

But the Arena owners and management have confirmed the team will fulfil all their league fixtures before the play-offs and claim the future looks good through Hawks developing home-grown talent.

A special statement read: "The owners and management of Blackburn Arena would like to express their regret and disappointment in having to make significant cuts which directly affected the playing roster of the Blackburn Hawks.

"The decision to make the cuts was taken on Monday, January 4, 1999, because of the continuing deteriorating financial position of the Hawks.

"In spite of consistent success on the ice, both home and away, the team failed to capture the interest of the people of East Lancashire as a whole.

"The cost of running the team for the season, which is generated locally from the Arena cash flow, had exceeded by almost twice the budgeted figure by the end of December, 1998. The principle reason for this is the lack of paying audience.

"The English Ice Hockey Association were made aware of our difficult situation and it was agreed that no player, even after the transfer deadline of December 31, 1998, would be stopped from transferring to another club.

"The Arena supports a highly-successful Junior Development programme and we believe that the future looks good as local players will come through to be the Hawks of the future."

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