Newry City FC to stay in business

Irish League football club Newry City FC has staved off the threat of going out of business, it has been confirmed.

A winding-up petition served on the club was formally dismissed at the High Court in Belfast on Thursday.

But the fate of another Premiership side, Glentoran, will not now be decided until the New Year.

A petition against the east Belfast club which was due to be heard today has been adjourned until 13 January.

Applications were brought against both Newry and Glentoran by HM Revenue and Customs commissioners.

Newry City is believed to have reached a resolution following discussions with the tax authorities.

Glentoran, meanwhile, are thought to owe the taxman hundreds of thousands of pounds.

It has been reported that a mystery benefactor is prepared to come to the club's rescue.

Glentoran's board said they have been working with financial advisors to resolve outstanding issues and ensure the club's future survival.