Football Federation Australia’s "worst-case scenario has become a reality after a breakdown in negotiations with Scottish multi-millionaire Stephen Thompson over the sale of the Newcastle Jets," according to Robert Dillon of the NEWCASTLE HERALD. FFA "assumed interim ownership of the Jets in May after ousting Nathan Tinkler," but the governing body was "intent on selling the franchise" before the '15-16 season. That plan "appeared on track" when FFA announced on Sept. 22 that "broad terms of the sale have been agreed" with an unnamed party, understood to be Thompson, the majority shareholder and chairman of Scottish Premiership club Dundee United. But on Thursday "it emerged FFA was back to square one, funding the Jets reluctantly and indefinitely, after Thompson’s consortium could not deliver" a A$4M ($2.86M) acquisition fee by the agreed date. FFA CEO David Gallop said, "We had planned to complete the transaction by the season kick-off, but the Thompson group requested more time to arrange finance and build a consortium structure. An informal deadline of October 31 was agreed. The transaction has not been completed. We have since informed Stephen Thompson that the period of exclusivity for his group to complete the sale has expired. We will continue to talk to the Thompson group, but FFA will now resume talks with other interested parties." A-League CEO Damien de Bohun "reassured the club's fans in May that Newcastle's future was in no doubt after Tinkler's demise." An FFA spokesperson declined to comment when asked if it "wanted to reiterate the message" (NEWCASTLE HERALD, 11/5). The AAP reported the reason behind Thompson’s "cold feet are unclear, though he is being kept busy in Scotland with last-placed Dundee United’s calamitous start to the season." The Jets have "flourished since the end of the turbulent Tinkler era," during which the club went into $2.7M ($1.9M) in debt and "were eventually placed into voluntary administration." Under new coach Scott Miller, the "overhauled franchise have three wins from four games and sit in third spot on the ladder" (AAP, 11/4).
