[2] In an effort to avoid similar financial struggles that plagued teams in the NASL (including the Calgary Boomers and Edmonton Drillers who folded in 1981 and 1982, respectively and the Montreal Manic who lost $3 million in each of those two years), league commissioner John Bailey announced that teams would work on smaller budgets (presumably around $500,000) to curb potential losses.

[2] On 7 December 1982, commissioner Bailey announced the first five franchises locations and owners that would take part - Montreal, Toronto, Mississauga, Hamilton, and Kitchener.

[2][3] However, these plans were unsuccessful with the league officially launching on 8 February 1983 with five teams – FC Inter-Montréal, Toronto Nationals, Mississauga Croatia, Hamilton Steelers, and the Edmonton Eagles (with the Kitchener group having dropped out).

[4] The league's opening match occurred on 21 May 1983 with the Toronto Nationals defeating the visiting FC Inter-Montréal at Varsity Stadium by a score of 2-1, in front of 3,680 spectators.

[6][5] After the Montreal and Toronto franchises failed to get new financial backers, the four remaining clubs decided to cancel the remainder of the regular season on 12 July and to proceed directly to the playoffs, with a best-of-three semi-final followed by a one-match winner-take-all championship final on 1 August 1983.

[4] Competing with the established North American Soccer League, the CPSL failed to attract significant crowds or the attention of the media.