THE future prospects of Sporting Fingal FC have taken a dramatic twist after it emerged developer and majority shareholder, Gerry Gannon, has resigned as club chairman.
In documents obtained from the Companies Registration Office, the Fingal Independent can reveal Mr Gannon stepped down from his post and that of company secretary on November 26th.
Sporting's very existence remains in the balance amid rumours of serious financial difficulties and suggestions the club may not be in a position to compete at the same level next year, while a review of its operations has been ongoing since the conclusion of the playing season at the end of October.
Mr Gannon, who has been replaced as company secretary by current club secretary, John O'Brien, made a € 750,000 'non-refundable contribution' last year, on top of a € 499,900 sponsorship payment in 2008. However, Sporting posted a loss of more than € 75,000 in 2009.
It's understood the club board is currently working with several parties who may be involved for the coming season, while a licensing application to compete in the Premier Division next year has been submitted to the FAI.
'Mr Gannon, who is a businessman based in Fingal, now wants to fully concentrate on his business interests, given the economic climate in Ireland,' a spokesperson for Mr Gannon said.
'He was glad to be a part of Sporting Fingal and he wishes them the best for the future.'
Speculation over the club's survival continues to be the talk of the League of Ireland, while contractual negotiations with players are taking place and a number have been released.
Club press officer, John Fallon, confirmed Mr Gannon's departure and said there was little prospect of Sporting's financial situation becoming clearer in the immediate future.
'There have been various exploratory talks taking place, but nothing has been developed to a point where we are close and I don't expect it will happen over the next few days,' Mr Fallon said.