Tom Coughlan is to step down as Chairman of Cork City FC, the club have confirmed in a statement.
Coughlan was left with little option but to resign following his failure in the High Court to have an FAI decision to suspend him for 12 months from football activities overturned.
Coughlan will remain as the owner of the club, despite being barred from working in football but the pressure is mounting on him from the FAI to relinquish control of the club.
The FAI were critical in their appraisal of what they called a 'gesture' from Coughlan.
'Rather than talking of stepping down as Chairman of Cork City FC, Mr Coughlan should immediately relinquish ownership of the club and allow in the parties who have expressed an interest in taking Cork City forward,' a statement from the FAI read.
'These parties made their interest clear to Mr Coughlan many months ago, yet nothing has happened. Gestures at the eleventh hour when it could be too late to rectify next season are too little, too late.'
Local businessman Michael O'Connell, backed by a consortium, has been linked with a takeover of the club and talks between the group and Coughlan are believed to be on-going.
The club confirmed Coughlan's intention to step down as chairman in a brief statement.
'Cork City Football Club wish to confirm that Mr Tom Coughlan will step down as Chairman of the club,' it read.
'The club will shortly appoint an interim Chairman to oversee the proposed takeover of the club and ensure the strategic development of the club for the 2010 season and into the future.'
