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The Blues' former boss had begun a wind-up petition against the club, but negotiations have begun between the two parties over the money Henderson is owed

Stephen Henderson began a wind-up petition against former employers Waterford United over claims he was owed a five-figure sum, but the Airtricity First Division club has begun negotiations with Henderson in order to ensure the club's future.

Henderson left Waterford in 2011, claiming he had been sacked by the Blues, and won his case against the club at Waterford and Dungarvan courts last December. However, the 47-year-old has not received any of the money owed, and intended to bring the club to the High Court.

Speaking to the Daily Mirror yesterday, Henderson said that his intention is just to receive the money he is owed, and not to put the club into danger. "I never expected things to go this far, nor do I want it to," Henderson admitted. "My family history in the League of Ireland stretches back to the 1940s and I’ll be seen as the villain when this comes out. There was no need for it to go this far but Waterford have refused all requests to sit down and talk this out like adults – they’ve left me with no choice."

However, a statement from Waterford United has confirmed that "negotiations have been opened between both parties. Waterford United is confident that a successful resolution will be found that will be acceptable and that a proud 83 year tradition of soccer in Waterford as well as over twenty jobs, will be protected and maintained into the future."