Newcastle Jets placed into voluntary administration

Newcastle Jets placed into voluntary administration

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Controversial Newcastle Jets owner Nathan Tinkler has placed the A-League club into voluntary administration with debts of up to $2.7 million.

The former mining magnate was ordered by Football Federation Australia (FFA) to raise over $500,000 by 5pm tonight or risk having his license revoked but the 39-year-old decided the place his club into administration.

It was reported in The Newcastle Herald that a deal with Scottish club Dundee United worth $5million is pending and the Jets are just waiting for approval from the FFA.

‘‘I have been in negotiations with the FFA over the last few days and wasn’t able to get them to guarantee the licence. I haven’t been willing to pay wages unless they guaranteed that so I have put the club into administration just now,’’ Tinkler said.

The players were meant to be paid last Friday but are still awaiting their payments. This includes players who have already announced their departures for next season.

He also said that he wants to get the deal finalised as soon as possible so everyone can get paid and he can move on.

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