Dublin City FC have sensationally stopped trading and cease to exist as a football team.
Club chairman Ronan Seery released a press statement which confirmed that Little Roc Inc, trading as Dublin City Football Club, have ceased trading.
'Due to ongoing difficulties, our continued existence within the eircom League simply became untenable and while extremely difficult to make, it is the most prudent and honourable decision and course of action to take,' the statement read.
'I would like to thank all those people who shared in the Dublin City dream and who, no doubt, will be disappointed, as I am, with this turn of events.
'I would like to place on record my deep appreciation for Dermot Keely, Gar Cronin and the backroom staff of Dublin City FC for their totally professional approach at all times, despite the difficulties they encountered along the way.
'To those investors and sponsors, the players and the loyal core of Vikings fans, I thank you for your unstinting efforts on behalf of the club,' Seery added.
Dublin City won promotion to the Premier League with a play-off victory over Shamrock Rovers at the end of last season and had adapted to life in the top flight. They were 9th in the league table at the time of the announcement.
The eircom League have confirmed that the results of all 17 league games that Dublin City have played this season will be expunged. As a consequence, Drogheda United have moved to the top of the eircom Premier League table.
FAI chief executive John Delaney said: 'The loss of any eircom League club from football is very unwelcome. The issues affecting all eircom League clubs in terms of viability and securing a sustainable future within the league are similar and are very much behind the rationale for the planned merger with the FAI.'