Racing club UABA is set to leave the sport it has dominated for more than 80 years in order to focus on the development of its youth players.
The Dublin-based outfit, which is a member of the Irish Association of Football Clubs, will announce its exit on Tuesday.
The club was founded in 1913 and has won the league three times, including in the 2016/17 season.
It is also the only Irish club to reach the final of the European Championship, the first time the country has achieved the feat.
It had previously won the Europa League and League Cup.
The team has also been crowned champions of the UEFA Champions League twice.
The move will leave it with just two top-flight games this season and it is expected that it will be disbanded by the end of next year.
In the future, UAB will be managed by the Irish Sports Confederation.
A source close to the club told The Irish Press: “We’ve had an excellent season and we’re very excited about what’s ahead.”
We’ve been the best-supported club in Ireland for over 80 years and we’ve got an incredible group of players who have helped us achieve a lot in the past.
“I think UAB has always been in a unique position to get away from the sport and have a strong presence in Ireland and the world.”
However, this time it’s been difficult for the club.
It has been a difficult financial year and we have lost a lot of revenue, particularly in the transfer market.
“The fact that we’ve been unable to reach our targets is a great disappointment and a real blow to the sport in Ireland.”
Hopefully, the sport can move on without this club.
“The club will have to lay off more than 1,000 people.