Last I heard, and this might not be 100% accurate, Skydome changed ownership, and the new owners didn't want to host a paintball event. So, they ran out the remaining obligated games at higher and higher prices, until they could shut them out entirely. New venues were searched for, but nothing materialized, so the event is dead.
That's from memory, which admittedly isn't that good. Can't remember things like I could when I was 25.
Back to the topic, I've been reorganizing my old magazines around the house, and have come across many articles and pictures of the Avalanche of old. What a great time to have been able to watch paintball evolve, and see the first true superteam roll the field. Without Avalanche taking those first steps, I have no doubt that today's powerhouse teams would not be where they are today.