Minnesota State University Moorhead President Edna Szymanski announced Monday that the school will not add Division I ice hockey to its athletic program.
In a letter she released to the MSUM faculty, Szymanski said the school has fallen short of raising the necessary money to fund a Division I men's and women's hockey team "due to the current economic climate."
MSUM was hoping to raise $37 million to support an endowment-model business plan to sustain a hockey program.
"The question of adding hockey has been under study on and off since 2009, and today's decision means that the matter will remain out of consideration until economic recovery makes it easier for community partners who expressed interest in participating to do so," a press release stated.
"We had a business model that required a $37 million dollar endowment from private sources to support hockey and while the community response has been impressive, we have been unable to identify the full $37 million."