They won the Riley Cup league championship in their inaugural season, beating the Winston-Salem Thunderbirds four games to one.

With some of the owners voting to enter the higher level American Hockey League, the franchise was canceled by the ECHL.

The ownership renamed the new franchise the Carolina Monarchs and played in the AHL for the 1995–96 season before their lease was revoked by the Greensboro Coliseum when the Hartford Whalers of the National Hockey League (NHL) moved temporarily to Greensboro and became the Carolina Hurricanes.

The Hurricanes then moved into their new arena and permanent home in Raleigh, North Carolina.

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