After losing their first two road contests, however, the Phantoms' first home game, scheduled for April 8, 2006, was called off due to a contract dispute.
With hardly any quality players left on its roster, Palm Beach lost their final two games by embarrassing margins; first, 70–0 to the eventual league runner-up Fayetteville Guard, followed by an incredible 132-3 dismantling by the Katy Copperheads, marking the worst defeat in indoor/arena football history.
A new indoor football team, the Palm Beach Waves, lasted just three games into the 2007 season before bailing out of the NIFL.
In 2012, the Palm Beach Phantoms name was revived for a proposed franchise in the United Indoor Football League.
Along with their attempts at joining various leagues in 2017, they were scheduled to play a home-and-home preseason series with the Savannah Coastal Outlaws of Arena Pro Football.