Manager Paul Kee wants to remain at the helm and offered the chance to lead ailing Institute back to the Danske Bank Premiership next season.
The North West side finally plummeted through the relegation trap door last week after suffering yet another defeat – this time at home to Ballymena United.
It hammered the final nail into Institute’s relegation coffin, with two games remaining.
Kee will now take his team to Stangmore Park to face Dungannon Swifts in a totally meaningless penultimate fixture.
“I plan to sit down with members of the Board over the next few weeks to decide the future,” said Kee.
“I certainly think I have some unfinished business at the club and I would like to be given the chance to do that.
“I’ll not deny there has been a bit of discontentment behind the scenes. Some people are disappointed with me. I appreciate to not win in 23 games is difficult to stomach and it’s not acceptable, but I understand that.
“I know that as manager it is the done thing for the manager to take the hit – that’s the way football is.
“However, I’ve given it my best shot. I won.’t be resigning – there is no chance of that. There is a job to be done here. We’ll see what transpires over the next couple of weeks.”
Meanwhile, it has emerged that both the chairman Keith McElhinney and vice-chairman, Trevor Hewitt, are both considering stepping down from their positions due to family and work commitments.
Hewitt has been at the club for close on 25 years, while McElhinney has been around for over a decade.
It is thought both men have been considering their future for some time, but didn’t want to distract from matters on the pitch as the club battled relegation.