Fears that the Setanta Sports Cup would collapse with the broadcasters and sponsors in financial turmoil have been allayed.
The draw will now take place next week after a four-week delay and the tournament will kick-off as planned on the last weekend of August.
While the UK arm of the company went into administration last month, Setanta Ireland is a separate entity and their channel has remained on-air.
Setanta Sports Cup Chairman, Milo Corcoran said: “We are all very happy to be continuing with this great cross-community competition for another four years.
“Setanta have been very good partners of ours for the last four seasons and it is great for football in Ireland and for the two associations that Setanta Ireland will be able to work with us into the future.”
Cliftonville, Coleraine, Glentoran and Linfield will represent the Irish FA Premiership, and they will be up against Bohemians, Cork City, Derry City, St Patrick’s Athletic and Sligo Rovers from the league of Ireland. The nine teams will be spilt into three groups which teams playing home and away, before two-legged semi-finals next spring and the final on May 15 2010.
Setanta Chief Executive Niall Cogley said: “We are very gratified with the support that we have received from the clubs and from the Associations following what has been a difficult period and we are delighted to be continuing with this tournament that signifies so much about our company. This all island competition represents our continuing commitment to domestic sport in Ireland alongside the big ticket international sport that Setanta also covers. I’m sure that this year’s Setanta Sports Cup will be as good as any we have had.”