Trevor Hemmings and his company Grovemoor Ltd have pledged to support Cork City in their bid to secure a licence to compete in the League of Ireland next year.
Grovemoor Ltd's bid to purchase the club failed to come to fruition due to an inability “to agree terms on a lease agreement with the Munster Football Association” for the use of Turner's Cross.
Their renewed commitment to the club could be a sign that hope is not lost for the takeover.
"The Board would like to publicly thank Mr Hemmings and his representatives for once again making a commitment to Cork football and in doing so securing the jobs of our professional staff for the upcoming season," Cork City FC said in a statement this evening.
"Our continued work with Grovemoor along with the budget that the board has put in place for the 2021 football season will enable us to maintain our current academy structures and professional off-field structures which we believe are a fundamental pre-requisite to a re-building process which must take place."
Members had agreed to sell the club to the Preston North End owners for €1 but the deal fell through as Grovemoor and the Munster Football Association failed to reach a deal over Turner's Cross.