Newcastle Jets Will Stay in A-League After Tinkler, Lowy Talks

Nathan Tinkler’s Hunter Sports Group will continue to run the Newcastle Jets A-League team after resolving its differences with Football Federation Australia.

Billionaire Tinkler’s sports management group said three weeks ago that it was returning its license 18 months into a 10- year agreement because of “an irrevocable breakdown in confidence of the FFA management.” The FFA said it wouldn’t accept the termination and was considering legal action.

Following a meeting between FFA Chairman Frank Lowy and Tinkler last weekend, the Sydney-based soccer governing body “made some concessions in good faith in order to resolve the matters,” Lowy said today in an e-mailed statement.

“My confidence is renewed over Nathan’s personal drive to make the Jets and the A-League successful,” Lowy added. “We agreed on a way forward that addresses the issues HSG have raised and we are now going to get on with developing the game together in a key region for football.”

The 36-year-old Tinkler, an electrician-turned-miner who is Australia’s youngest billionaire, handed the license back April 10 following a dispute over the size of the acquisition fee he paid for the Jets and insurance issues around marquee signing Jason Culina after he suffered a knee injury.

Tinkler had stepped in to rescue the Jets in September 2010 after the FFA withdrew the license of former owner Con Constantine because the 2008 A-League champion ran out of money to pay players and stadium fees.

“We now have a way forward and I remain committed to ensuring the Newcastle Jets is one of the most successful clubs in the A-League,” Tinkler said today.

To contact the reporter on this story: Dan Baynes in Sydney at dbaynes@bloomberg.net

To contact the editor responsible for this story: Christopher Elser at celser@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.