Cork City FC intends to appeal the decision not to award the club a licence to compete in the Premier Division, the club said in a statement this lunchtime.
"It is the understanding of the club staff and management that a deal had been confirmed for the transfer of ownership of the club, however this has now failed to materialise," the statement said.
"Club management will today endeavour to resolve the outstanding issue with the Revenue at the High Court and to save the jobs of over 30 employees.
"We understand that the licence application was recommended for approval by the FAI and we appreciate all assistance given by all parties in trying to keep the club alive."
The club said the key issue was the jobs of all those employed by CCFC, and it called on the Minister for Enterprise, Trade and Employment, the FAI, the Munster FA and all other parties who may be able to assist with saving these jobs to act swiftly.
"The club also hopes that any parties who show a willingness to take over the club will engage with the club should an appeal result in the club achieving a League of Ireland licence, and not just that of a Premier Division Licence," the statement continued.
"Thirty-two Cork jobs hang in the balance and we need all assistance to save them."
The club faces the enforcement of a winding up order at 2pm today, the final deadline set by the High Court yesterday for City to pay a €160,000 debt to the Revenue Commissioners for outstanding VAT, PAYE and PRSI bills.
The FAI last night refusing the application for a Premier Division licence submitted by a consortium posied to take over the club, saying the licence application “fell seriously short of the criteria required to fulfil a Premier Division Licence in a number of areas”.
The consortium consisting of Peter Gray, Michael O’Connell and supporters’ group FORAS (Friends of the Rebel Army Society), earlier expressed its anger and frustration that the bid to save to club had run aground, criticising the actions of current CCFC owner Tom Coughlan.