Limerick owner Pat O’Sullivan has confirmed he is seeking to sell some or all of his share due to the financial burden of running the SSE Airtricity Premier Division outfit.

O’Sullivan has put a huge financial outlay into Limerick and also brought the club back to the Market’s Field with the help of the JP McManus Foundation.

The Limerick chairman wants to see the club eventually qualify for Europe but said it will require investment to maintain a full-time outfit to continually compete in the top half of the league.

He said there is "a financial gap in building the bridge between producing local players and taking Limerick team into European club competition of typically €500,000 per annum on the basis of the income and expenditure structures at the moment".

He added: "Hence we need to have investors, to include outside investors or strong local commercial support."

O'Sullivan revealed he is in discussions with a number of parties with a view to selling a stake or all of the club. 

"I personally had been funding the development and day to day cost of running this club and trying to keep it at a level as competitive as possible in a very competitive top half of the table.

"I have been saying for quite some time that this was not possible for me in the long-term.

"We have reached a point now where we have to firmly address this particular issue because some clubs have become much stronger and given the structures of our league significant finances are required of any club that wants to stay in competition with the top of the table.

"At this moment in time I am in discussion with a number of parties with a view to selling an interest in the club.

"It might mean 100% of the club, but certainly it will ensure a majority share of the club.

"It must be said that it is our intent to maintain senior soccer at the highest level within our city and region.

"Our city and region deserved to have a competitive senior soccer team, but it also deserves and must have a structure and pathway to allow the development and production of our own young players."

The club are currently without a manager due to Neil McDonald departing to be assistant at Scunthorpe United.