Cork City have confirmed that they are on the lookout for a new manager after revealing that Paul Doolin will be leaving his position as manager of the club.

Doolin dismissed reports that he was leaving the club when contacted by RTÉ Sport earlier today, but the club released a statement at 8.34pm to confirm the Dubliner's tenure at the club had come to a premature end.

The statement read: 'Following discussions between Paul Doolin and club management, it has been agreed that Mr Doolin will be leaving his position as manager of the first team.'

Cork City General Manager Liam Meaney thanked Doolin for his efforts during a difficult year since arriving at the cash-strapped club on a two-year contract in January.

Meaney said: 'We are very grateful to Paul Doolin for his contribution to the club. The 2009 season was a difficult one however Paul, his players and his backroom staff performed excellently to secure qualification for the Europa League. On behalf of everyone at Cork City Football Club, I would like to wish Paul the best of luck for the future.'

The statement concluded: 'The club has begun the search for a new manager and an announcement will follow in due course.'

City finished third in this year's League of Ireland Premier Division despite having to sell a number of their best players because of the club's on-going financial problems.

Under the chairmanship of Tom Coughlan, the club has been beset by a series of financial setbacks since emerging from examinership last year.