With a $7 million cloud of debt hanging over recently sold Salem International University, the West Virginia school has turned to cost cutting in order to get its financial house in order and that move has left the SIU swimmers without a team.

In a release from the school, SIU officials announced that, "As SIU turns toward a new, more positive chapter in its history" they will be shifting some priorities necessary to strengthen the overall effectiveness of their athletic program.

Singapore-based Informatics Holdings Ltd. sold the university Thursday for about $13 million to The Palmer Group, an investment firm in Philadelphia. As a part of the deal, the seller agreed to absorb the debt. The sale essentially ends SIU's status as a not-for-profit university to a private, for-profit institution.

Not factoring into the bottom line is the swimming program, along with cross-country and women's water polo. The move is effective immediately and is designed to allow the university, "to better utilize resources while strengthening our remaining eleven varsity sports, including the planned addition of women's golf for the upcoming season."

Athletes who participate in the discontinued sports will be permitted to retain their athletic scholarship for one academic year ('05-'06). They will also be granted unconditional releases should they choose to transfer to another institution so they may continue to compete in their respective sports.

The release from SIU added, "We regret the loss of these sports and recognize that they have enriched the campus culture over the years; the athletes themselves have been some of the finest student-athletes recruited to SIU."

Don Appiarius will assume the role of athletic director and Clark Maloney will become the assistant athletic director. Mr. Maloney will continue to function as head coach of the men*s basketball team.

The the move, along with South Dakota State's transition to Division I last year, 48 men's teams remain in Division II.