Soccer: Dundalk FC remain in a “perilous financial state” according to the club, despite meetings with the FAI and PFAI today.

Manager Seán McCaffrey has all but conceded the club will be relegated if it loses some key players in the transfer window, but the situation is far more severe than that and the fear is Dundalk may not even see out the rest of the season.

The club board “met with both Fran Gavin of the FAI and Stephen McGuinness and Ollie Cahill from the PFAI” this morning," a statement confirmed today. “Both meetings have been very constructive and the club acknowledge the part both organisations have played.

“However, the club remains in a perilous financial state and the Board are still working extremely hard to secure the club's participation for the remainder of the season.

“We acknowledge the worry and concern of the club’s supporters but would ask for your continued support and we will continue to keep you informed as the situation becomes more clearer. Hopefully this will be a lot more sooner than later but as there are some sensitive issues at play we are unable to state when we can make further statements.”

Owner Gerry Matthews reiterated this week he will not be applying to have Dundalk’s licence renewed for 2013. Supporters group the Dundalk FC Community Trust are now in discussions on the feasibility of a takeover.