MANILA, Philippines – FC Meralco Manila, one of the most successful clubs in local football, has ceased operations effective immediately.

The club announced through its Facebook account on Monday that it will not participate in the second season of the Philippines Football League (PFL), as "circumstances beyond our control have made it difficult for FC Meralco Manila to continue."

"The board and management of the Sparks have tried to arrange for new investors that would keep the organization running, but those efforts have sadly fallen short," the team added.

FC Meralco Manila, previously known as the Loyola Meralco Sparks, was one of the most successful clubs in the United Football League and one of the most popular as well, thanks in part to the Younghusband brothers who bannered the team.

The Younghusband brothers left the team for Davao Aguilas in the inaugural PFL season, but Meralco still wound up as the top seed before falling to Global Cebu in the semifinals.

The team management is now in search of new teams for their players, while an update regarding their Youth Academy "will be made in due course."

"The club also encourages all Sparks fans to keep on supporting the league and Philippine football as a whole," the team said.

For more sports coverage, visit the ABS-CBN Sports website.