But Scorchers said the University of Surrey, which owns the Surrey Sports Park where the club played their home games, is unable to continue its backing, having been forced to make “proactive decisions to restore long-term sustainability to their finances” due to “economic headwinds across the UK higher education sector”.

In a statement, the club, which was initially formed as the Guildford Heat in 2005, said: “It is with sadness that we today announce the end of an era for Surrey Scorchers, based at the Surrey Sports Park and a long-standing member of the British Basketball League.

“Being out of season with no confirmed league, commercial structure or income has made it impossible [for the University of Surrey] to support Scorchers in navigating this unexpected period of uncertainty.

“While we are extremely sad that we are no longer able to operate an elite basketball team, Surrey Sports Park will continue to be a home for basketball at all levels in Guildford and Surrey.

“We look forward to continuing to welcome our students, our Sports Park members and other members of the wider community to play basketball with us.”

Surrey Sports Park has been the home of the Scorchers since 2015, when the rebranded Surrey Heat moved from Guildford Spectrum.

As the Guildford Heat from 2005-12, they won the BBL Championship in 2006-07 and the play-offs the following year.

The venue’s netball team, Surrey Storm, will also not be part of the relaunched Netball Super League.