Sligo Rovers "sternly object" to the "grossly unfair" format that the SSE Airtricity League will take when it resumes on July 31.
There will be another Premier Club Alliance meeting tonight to discuss the National League Executive Committee's decision to retain the existing format of the season, with one club to be automatically relegated from the top flight and another facing a relegation play-off.
Despite FAI interim deputy CEO Niall Quinn's claim that the decision brings "clarity", the nine Premier Division clubs that voted against the existing format are very unhappy with the outcome of protracted talks.
Already this evening, Waterford owner Lee Power has threatened that the Blues may not be able to return over financial concerns.
And, currently bottom of the Premier Division having failed to earn a point from four years, Sligo chiefs are unhappy that the truncated league campaign of 18 fixtures for each top flight club
However the Bit O'Red have pledged to return.
"On the pitch, we face a massive challenge in 14 matches left to play in the season," read a statement tonight from the club's management committee.
"But it was the only scenario in which we could return.
"This format proposed today was of particular disappointment to the club and is something we sternly object to. We believe it is grossly unfair, unjust and do not see the matter as concluded.
"We will be having further discussions on this issue with relevant parties.
"From today we will regroup, we will rally together and take on the next 16 weeks with the resilience that has got us this far as a football club.
"We thank everyone for their support in recent months and look forward to returning to the pitch on 31 July.
The statement added: "Our club’s history is filled with a steely determination to survive all the challenges thrown our way. We have never given up in over 90 years, we have defied logic and our best days have come from it.
"It also became clear that Sligo Rovers would be the club hit hardest by the Covid-19 crisis as our fundraising (€500,000 in 2019) and gate receipts (at highest level in seven years last year) have been decimated. This forms 70% of our annual budget.
"We have accepted a financial package, which, in truth, will still leave a massive strain on the football club and also required a compromise from all parties involved.
"We want to acknowledge that our management team, our players, administration staff and the wider Sligo Rovers community have all played their part in encouraging the decision to return.
"Not returning to this season would leave us in a position that we may not have been able to recover from. It would leave the club with debts that could not be overcome.
"That was the defining factor in reaching this decision.
"We have consulted with some supporter groups, including the Bit O ‘Red Supporters Trust, who will help facilitate a GoFundMe page to help with costs."
"We will also launch our Annual Draw, with a change in ticket sale policy to be compliant with Covid-19. The Bit O’ Red Wall Stage 2 will also commence.
"The financial challenge is significant and requires a high level of support but the alternative is much worse.
"Our first-team players returned to training and employment this week.
"Our underage players will soon follow. In the last number of years the people of Sligo have built a football club that completely defied the environment imposed on us by the former regime in the FAI."
