TINKLER PUTS JETS INTO VOLUNTARY ADMINISTRATION
Former mining magnate Nathan Tinkler has put the Newcastle Jets into voluntary administration with debts of $2.7million.
Tinkler’s football debts have been mounting in recent weeks with players wages and super unpaid. The Jets also owe the University of Newcastle $40,000 for training facility fees.
Tinkler says the club could be sold to Scottish club Dundee United for $5-million, if that sale is permitted by Football Federation Australia.
He said the sale hinges on whether FFA revoke’s his ownership licence.
“I have been in negotiations with the FFA over the last few days and wasn’t able to get them to guarantee the licence,” Tinkler told
News Corp on Wednesday.
“And I haven’t been willing to pay wages unless they guaranteed that so I have put the club into administration just now.”
Tinkler says the offer from Dundee is well in excess of his debts.
“The only risk to that is if the FFA decide to act in a morally bankrupt manner and take the licence and that presents a whole bunch of other issues,” said Tinkler.
