The news on the CPL's website quotes that all events scheduled for 2008 are canceled. The reasons given are "the current fragmentation of the sport, a crowded field of competing leagues, and the current economic climate."
Those reasons are very similar to the ones given by the World Series of Video Games when the organisation closed its doors in 2007.
CPL's problems began after they lost their lucrative Intel sponsorship after the 2005 CPL World Tour. CPL's 2006 season was a very low-key one. Sierra's sponsorship gave the CPL $500,000 for their circuit in World in Conflict and F.E.A.R. However, the shutdown seemed imminent after tournaments suffered poor turnouts and the G7 teams officially boycotting CPL's events.
This piece of news has been expected for a long time, but it is still a major issue in the world of electronic sports. Founded in 1997, the CPL has been a leader in the field for a very long time and many of its events were among the most prestigious in esports, particularly in Counter-Strike.
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R.I.P. CPL

The Cyberathlete Professional League announced today that it had ceased operations.
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http://www.esreality.com/?a=post&id=1466099
R.I.P CPL
no wc3
pff cpl
for me it was better than wcg.
it was sad to see how cpl was dying :-( now, when cpl died i cant imagin what a single tournament could fix into the shoes of cpl...
GG CPL
farewell cpl