The future of League of Ireland side Sporting Fingal is in serious doubt after the Professional Footballers’ Association of Ireland (PFAI) released a statement tonight confirming that the club has cancelled the contracts of its entire playing staff.

The club have lost some of their key backers and have withdrawn from the Setanta Cup, with UCD taking their place.

The FAI are in talks with the club about whether they will be in a position to obtain a club license to play in the upcoming Premier Division season. The Independent Licensing Committee meets on Sunday to decide on licenses for the 2011 season.

In a statement tonight the club said: “Sporting Fingal FC is disappointed to be unable to participate in the 2011 Setanta Sports Cup competition.

“Due to ongoing negotiations with regard to FAI licensing matters, it is Sporting Fingal’s intention to make a statement in relation to the club’s position during the coming days”.

Earlier a statement from the PFAI expressed their disappointment that contracts, some that have been recently signed, are not being honoured. They also confirmed that the players involved are now seeking employment elsewhere.

Sporting Fingal were badly hit after property developer Gerry Gannon stood down from his role as chairman. He was also a key benefactor behind the club that won the 2009 FAI Ford Cup.

Just last weekend the club announced that the 13 players remaining on their books had been paid their overdue wages and the club were preparing for their opening Setanta Cup game against Lisburn Distillery at their new home Dalymount Park on St Valentine’s Day. UCD have now stepped in to take their place in the eight-team competition.