Shelbourne have come to an agreement with Dublin City Council to relocate to a redeveloped Dalymount Park as co-anchor tenants with Bohemians.

As part of this agreement, Shelbourne FC Ltd, the company which trades as Shelbourne Football Club, has surrendered its interest in Tolka Park to the council.

The club said its directors and board of management are “united in the view that the time is right to start planning a move to pastures new”.

Shels have struggled since financial collapse following their success in the early 2000s. They are currently languishing in mid-table in the First Division.

The club said that Tolka Park is “increasingly showing its age and there was no prospect of attracting investment to redevelop”.

In the statement, Shels said the move heralds “a new dawn for League of Ireland football on the Northside of the Liffey and indeed throughout the country”.

They will continue to play in Tolka Park until the Dalymount rebuild is completed.