The Australian A-League football competition is in further turmoil with another club folding.
Mining billionaire Nathan Tinkler's Hunter Sports Group announced it is handing back its licence for the Newcastle Jets because of irreconcilable differences with Football Federation Australia.
It's a major blow for FFA just days after Gold Coast became the third club to fold in the competition's short history.
The Jets' survival now seemingly hinges on FFA's ability to find them a new owner for the second time in less than two years.
The Newcastle administration says it's been unable to resolve a variety of issues with FFA, including what they considered an unfairly steep $6 million license acquisition fee.
The announcement comes just hours ahead of tonight's A-League annual awards ceremony.
The Hunter Sports Group stepped in to save the club almost 18 months ago after it was on the verge of folding and claims it's invested $15 million since taking control.
HSG says its decision would not impact on the Newcastle Knights National Rugby League club which it also owns.
