Irish Carling Premiership football club Glentoran has secured an adjournment of legal procedures regarding a HM Revenue and Customs winding-up order.
The club received a winding-up petition last month for outstanding tax payments of as much as £300,000.
However the Board of the Club has worked alongside corporate and financial advisors to resolve the outstanding issues and ensure the future survival of the club.
A statement of the clubs website said: “Our legal representatives have today successfully obtained an adjournment to that legal procedure. This is the first step in a process that will, we trust, lead to a satisfactory outcome for all stakeholders and supporters early in the New Year.”
It is rumored that The Glens have been saved by an anonymous benefactor.