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Waterford United's management committee are due to hold meetings regarding the future of the club after the Blues were forced to pay €50,000 to former manager Stephen Henderson

The future of Waterford United hangs in the balance after the Airtricity First Division club were forced to pay €50,000 to former manager Stephen Henderson.

Henderson's contract was terminated in May 2011 with 18-months remaining on the deal. The former manager brought a case against his previous employer, and a court judgement in the Circuit Court in Dungarvan on Friday last ruled in Henderson's favour.

While it is understood the club followed the correct procedures regarding his termination, they must now pay Henderson €50,000 for the time remaining on his contract. Waterford United's management committee is set to meet over the next few days to discuss the matter and are expected to comment on the future of the club by the end of the year.

Paul O'Brien is expected to lead the club in 2013, while no new players have been signed so far. The Blues should receive some compensation from West Ham United, who are in the process of completing a deal for teenage forward Sean Maguire.