The billionaire owner Nathan Tinkler has apologised to Newcastle Jets football fans, players and staff for plans to walk away from the club but insists the A-League is doomed to fail.
Tinkler's Hunter Sports Group announced on Tuesday its handing back its A-League licence for the Jets due to irreconcilable differences with Football Federation Australia.
The matter now appears headed to court with FFA insisting HSG has no legal grounds to hand back a licence it holds until 2020.
Tinkler says he feels for those involved with the club but insists he had no choice saying he's been fobbed off by the FFA over several issues, including why the club was charged a reported $6 million to acquire the team's licence.
FFA has denied HSG were unfairly charged to acquire the team's licence, saying the fees were fair, given the club was already up and running, and decided upon after a negotiation process.
But Tinkler, who also owns the Newcastle Knights NRL team, also has serious issues with the game's administration and believes the A-League is destined to fail in Australia.