The Football Association of Ireland (FAI) has invited Galway Football Club to apply for a licence to participate in the Airtricity First Division in 2014.
Following the publication of the O'Connor Report in October 2012, which recommended a single League of Ireland football club in the Galway area, stakeholders and the FAI have been working towards the fulfilment of that goal.
As a consequence, the current Galway-based clubs competing in the First Division, Mervue United and Salthill Devon, will not be involved in senior football in 2014.
In a statement, the new club announced that an application was being prepared and stated that it had begun the search for a manager ahead of the new season.
"Galway FC are pleased to confirm that they have been invited to submit a licence application by the FAI for the forthcoming 2014 League of Ireland season and that work has now commenced on preparing that application," read the statement.
Describing the development as a "new dawn in Galway soccer" the club revealed that the new entity would receive sponsorship from the property management company, the Comer Group for a period of three years. Furthermore, all home games will be held at Eamon Deacy Park in Galway.
In addition, the club confirmed that it would work closely with supporters in order to examine the "development of a cooperative structure."
"Supporters' involvement is a key ingredient and critical to the success and integration of this new entity in the community and Galway United Supporters Trust (GUST) continue to work with the board and the co-op subcommittee on examining the development of a cooperative structure," added the statement.