The South Bay's Gloomy Summer Continues (UPDATED)

From the L.A. Times, the AVP gets stuffed:

The AVP Tour has canceled the rest of its beach volleyball season, including next weekend's Manhattan Beach Open, because it has run out of money and was unable to find new investors.
Last month, The Times broke the news that the tour was in financial trouble.
“On behalf of AVP staff we want to express our sincere gratitude to fans, players, partners and sponsors,” Jason Hodell, the tour's chief executive, said in a statement. “Words cannot express our profound disappointment."
In a separate statement, AVP Commissioner Mike Dodd said, “Through the course of this investor search we have encountered individuals and groups with intelligence, common sense and a passion for the game of beach volleyball. Unfortunately, the time constraints were such that pulling the trigger on the amount of money necessary to salvage this season were too great. Ironically this sad news comes as we approach the 50th anniversary of the Manhattan Open, our sport’s crown jewel and the one event that showed us all we could dream big. The Open has seen its ups and downs over the years and always persevered. I’m sure our sport will do the same.”
Created in 1983 as a players' association, the first AVP Tour was held in 1988.

UPDATE: The Open will happen, and it'll go old-school:

The Times has more:

The most storied tournament in beach volleyball was in jeopardy on Friday — but only for a few hours.
Less than a week before play was set to begin at the 50th Manhattan Beach Open, the Assn. of Volleyball Professionals announced that it is no longer financially viable and canceled the rest of the season.
The timing of the AVP announcement meant little time for the city of Manhattan Beach and the California Beach Volleyball Assn. to save the tournament.
"I think the most important information to get out to everybody is that the tournament will happen," CBVA President Chris Brown said. "Unfortunately, the details are a little hazy."
He said the tournament will run from Friday to Sunday as planned and would return to its roots — no stadium seating, no grandstands. "No bells or whistles," Brown said.