Damien Richardson and Cork City have parted company after a settlement was reached between the two parties.

Richardson had initiated High Court proceedings to prevent any move by the League of Ireland club to dismiss him despite guiding the Turner's Cross club to league success in 2005 and this year's FAI  Cup.

However, in a joint statement Richardson said that, arising out of talks yesterday between both sides, "he is leaving the club".

He thanked the players and supporters who made his tenure so enjoyable and he wished the club and its new owners continued success.

The club said it was "very grateful" for Mr Richardson's commitment and hard work as reflected in the recent winning of the FAI cup and it wished him every success in his future career.

A financial package for the manager was, which Richardson described himself to be satisfied with, but insisted that he was unhappy to be leaving the club.

Richardson has now been linked to the Bohemians job after Sean Connor was sacked with immediate effect yesterday.