The FAI has convened an emergency board meeting for Saturday to discuss the future of Derry City.

The decision comes amid growing speculation that there are irregularities in some documentation supplied to the FAI by the club at the start of the season.

The FAI met with club officials last night and, speaking today, chief executive John Delaney hinted at the seriousness of the issues discussed.

“If we do find a situation where we have been given information that differs from what it should have been, then we will take it very seriously,” he said.

“All I can say at this, points is that there are grave concerns after the meeting that took place last night.”

The club has for some months been engaged in a behind the scenes row with players over unpaid wages. It came to the fore nearly two weeks ago when the squad spoke to local press and claimed they had been told they could leave on free transfers.

The club's debts are believed to be upwards of €300,000, while Dungannon Swifts have begun a winding up order of over €30,000 for monies owed following the transfer of Niall McGinn to Celtic.

Derry will finish the 2009 season away to Dundalk tomorrow and amazingly are guaranteed fourth in the league, though they could make third if Cork lose to Galway at Terryland Park.