Under previous ownership, the team was known as Cheshire Jets, but due to financial difficulties the franchise was withdrawn from the League in November 2012 and reformed as the Phoenix.

Burton's announcement, after 19 years at the helm, raised serious doubts of the clubs' future,[1] with mounting debts and lack of financial backing.

Shortly after the announcement, fans formed a committee to help save the club and received the backing of players including former Jet James Hamilton.

When BiG Storage terminated the sponsorship, the managing director of the company arranged a successor sponsor; Cheshire West and Chester Council.

(Cheshire Chronicle)[permanent dead link‍] The club had until the end of November to find £50,000 to preserve its status in top-flight basketball.

Local businesses were found to donate money and become sponsors, thus saving the club and fulfilling its fixture list as planned.

On 28 January 2024, the Phoenix won their sixth BBL Trophy following an upset win over the favored London Lions in the final.