The threat of bankruptcy has hung over the Norwegian elite club, which finished sixth in the Norwegian league last season and reached the quarter-finals of the playoffs.
The club has become champions on three occasions, most recently in 2011.
"The board has recently worked intensively to evaluate the financial situation and investigate the possibility of securing continued operations. Unfortunately, it has not been possible to find a financial solution," writes the club, which is now filing for bankruptcy.
The Norwegian Eliteserien starts next weekend and Sparta will not be replaced, the Norwegian Ice Hockey Association says.
Sparta Sarpsborg has two Swedish players on the team, Anton Gradin and Victor Öhman, both on loan from Modo.
