Limerick can apply to compete in the SSE Airtricity League First Division next season following a climbdown by the FAI tonight.
The development follows proceedings instigated by the club against the FAI this week for allegedly not inviting Pat O'Sullivan's outfit to apply for a licence to play in the division this year.
Earlier today, Ms Justice Leonie Reynolds adjourned the case until Monday due to talks continuing between both parties.
Now the FAI now confirmed that the club can apply for a licence to compete in the second tier league and the underage leagues for the 2020 season.
The club must show by next month that it can wipe out its debts if it is to have a chance of playing senior football next term.
As things stand, and despite opposition from a majority of other clubs in the league, Shamrock Rovers plan to field a B team in the First Division next term, bringing the numbers back from nine to 10.
"Following talks with the club this week, the FAI are satisfied that Limerick FC, who trade as Munster Football Club Limited, came out of Examinership on December 11th, 2019," read a statement from the association.
"The Independent Club Licensing Committee is due to meet next month to assess all applications from Premier & First Division clubs ahead of the 2020 season kicking off".
Earlier this week, Limerick United had revealed plans to bring senior football back to the city by 2021, with club chiefs describing the move as a "new dawn" for the sport in Limerick.
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