The holding company behind Shelbourne football club, Accolade Ltd, has until the start of October to pay outstanding debts to the Revenue, the High Court ruled today.

The company owes the Revenue Commissioners in excess of €104,000 and the High Court adjourned a petition to wind up Accolade until October 2nd.

"There is no need for Shelbourne fans to worry, the situation is under control," the club's chief executive Ollie Byrne said in a statement today.

"The money to pay the revenue is there, but there was a need to clarify one point before paying it over. We are now currently in discussions regarding the restructuring of payments."

"Regards new investors," Byrne continued, "the discussions are still very much in progress. People can speculate as much as they like, but Shelbourne FC will continue to operate and fans needs not worry".

Shelbourne cleared a €300,000 tax bill in April.