▁play offs , ▁ear ning ▁the ▁C PS L ▁Championship ▁once ▁in ▁ 1 9 9 9 . ▁They ▁also ▁finished ▁as ▁regular ▁season ▁run ners - up ▁in ▁ 2 0 0 1 , ▁and ▁were ▁two - time ▁Rog ers ▁Cup ▁final ists ▁in ▁ 1 9 9 8 ▁and ▁ 2 0 0 0 . ▁ ▁Despite ▁the ▁early ▁success , ▁the ▁team ' s ▁performance ▁went ▁down hill ▁from ▁ 2 0 0 2 ▁on ward , ▁and ▁the ▁franch ise ▁eventually ▁fol ded ▁after ▁the ▁ 2 0 0 5 ▁season . ▁ ▁History ▁ ▁Found ing ▁C PS L ▁member ▁( 1 9 9 8 ) ▁ ▁In ▁ 1 9 9 8 , ▁the ▁Canadian ▁Professional ▁Soccer ▁League ▁was ▁formed ▁as ▁a ▁result ▁of ▁a ▁mer ger ▁between ▁the ▁Canadian ▁National ▁Soccer ▁League ▁and ▁the ▁still born ▁Ontario ▁Professional ▁Soccer ▁League ▁with ▁the ▁Toronto ▁Olymp ians ▁entering ▁the ▁league ▁as ▁a ▁new ▁franch ise . ▁The ▁Olymp ians ▁were ▁owned ▁by ▁Tom ▁Mich al op oul os , ▁which ▁as ▁a ▁result ▁allowed ▁the ▁club ▁to ▁receive ▁spons or ship ▁money ▁from ▁C off ee ▁Time ▁which ▁Mich al op oul os ▁founded . ▁The ▁organization ▁brought ▁in ▁former ▁Toronto ▁Lyn x ▁general ▁manager ▁and ▁assistant ▁coach ▁David ▁Ge e ▁to ▁coach ▁the ▁newly ▁franch ise . ▁Ge e ' s ▁ro ster ▁consist ▁of ▁a ▁mixture ▁of ▁C NS L ▁al umn i ▁and ▁players ▁with ▁US L ▁A - Le ague ▁experience . ▁He