Airtricity League of Ireland side Sporting Fingal Football Club has withdrawn its application to the FAI to compete in the competition and will cease trading.
Fingal has failed to find enough funding having struggled since main benefactor Gerry Gannon left the club at the end of last season and despite raising funds through commercial partnerships the club’s failure to secure a ‘key’ sponsor has led to the decision to pull out of the league.
Liam Buckley, director of football with Sporting Fingal, said: "I am devastated for all involved with Sporting Fingal – players, staff, fans, volunteers, directors etc – that we have been forced to bring the Sporting Fingal project to a premature end.
"Finding a replacement for our supportive backer was always going to be a major challenge but we were pleased with the progress made.
"Sadly, the suddenness and timing of last week’s sponsorship set-back sent us back to the drawing board, a predicament we were simply unable to overcome so close to the season kick-off."
Club secretary John O’Brien added: "It is a very sad day, but we simply ran out of time. We are especially disappointed for everyone who has backed the project and those who have put so much into the club."
All the club’s players have been released from their contracts immediately.