The future of Cork City Football Club remains as uncertain as ever with today's news that a petition was officially lodged with the High Court in the hope of placing the club under the protection of examinership.

Arkaga, the company financing the troubled club, are believed to want out after investing more than €2.4million since they bought the club last year. It is understood the club are currently carrying debts in the region of €800,000.

The club are still seeking support from the current owners but are also looking at other investment opportunities, including financial support from their loyal fan base.

Today's statement from the club read: "At a meeting of the board of Cork City Football Club with its legal, and other, advisers a decision was taken to petition the High Court to place the club under the protection of the examinership process."

"The board remains in talks with potential investors and is very optimistic and confident that Cork City will emerge from this difficult period and continue in to the future as one of the best clubs in the League of Ireland.

"It is critical that the support given so generously, and over so many years, to Cork City Football Club by its fans continues during this period of examinership.

"This is a time when the fans, players, management and officials need to come together and ensure that the best supported club in Ireland continues to be successful in to the future."