After this year’s Setanta Cup was hit by the withdrawal of Irish Premiership sides Cliftonville and Linfield, citing match-scheduling problems and reduced prize money, organisers are anxious to breath fresh life into the cross-border competition on what will be its 10th anniversary in 2015.

One proposal, which would be covered by the existing prize fund of €75,000, would see the competition restricted to four clubs, the respective associations’ league and cup winners.

Over three weeks in May, the cup and league winners in the North would play each other in a two-legged semi-final, as would the cup and league winners in the South, with the final to be played on the last Saturday of the month.

The alternative would see an increase to eight teams from the North and eight from the South competing in a knockout competition beginning in February. But, for that to happen, says chairman of the organising committee, Milo Corcoran, additional sponsors would have to come on board.

“To have that number of teams in it, we’d need to have an increased prize fund,” he says.

“We have €75,000 and we’d have to double it.

“I know both associations’ commercial departments are working on that since last year.

“But it would be foolish to go down that road if we can’t come up with the money. At the end of the day, the prize fund will dictate. €160,000 would probably do it.”

However, Corcoran concedes that attracting extra sponsorship is a huge challenge.

“Absolutely, there is nobody running in the door giving us a cheque,” he says.

“But we hope that somebody will see the advantage of getting their name out there and being linked with the Setanta Sports Cup.”

While Setanta are committed to the competition for the next two years, organisers have set themselves a deadline of September 3 to decide on the format for 2015’s competition.