On July 31, 1975, Jack Riley was announced as the new commissioner of the SHL, taking over for interim leader Gene Hawthorne, of the Roanoke Valley Rebels.
The new team was named after the Fayetteville Arsenal, and was scheduled to play at the Cumberland County Memorial Arena.
In October 1974, owner Bill Raue moved the team, to Hampton, Virginia before playing any games, when availability of home ice dates became a problem.
The five teams played a complete schedule of 72 games, with the Charlotte Checkers winning the regular season, and the playoffs.
Summary of WHA/NHL affiliation agreements: Top 10 SHL points scoring leaders.