Sligo Rovers are the latest eircom League club to be hit by financial difficulties.
An emergency general meeting of the club last night told that €130,000 needs to be raised in order to secure the professional set up at The Showgrounds.
Manager Paul Cook is left with just 14 contracted players at the club following the departure of Anto Murphy to Bohemians and Jamie McKenzie to Apollen Limassol.
A statement released by the club confirmed that two options aimed at securing survival were proposed, the creation of a new members syndicate or a share capital drive.
The strongly worded statement claimed: 'It is a matter of fact that if Sligo Rovers Football Club do not raise substantial funds by the end of August 2008 the club will no longer exist in football.'
A second meeting is to be held in four weeks time.
