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A-League: Newcastle Jets' wait for new owner continues By JAMES GARDINER
March 22, 2016, 9:26 p.m.
Talks between the FFA and prospective owner Martin Lee are understood to have stalled over the asking price. Picture: Getty Images
THE Newcastle Jets are set to end the A-League season as they started it – in search of a new owner.
The Herald has been told talks between Football Federation Australia and Chinese lighting magnate Martin Lee have stalled.
Lee and his financial adviser held a marathon meeting with FFA at the governing’s body’s headquarters on Tuesday.
The FFA confirmed that it had met with a potential buyer but said details of the meeting were confidential.
“FFA has today held discussions with one of the interested parties in relation to the sale of the Newcastle Jets,” an FFA spokesperson said last night.
“The discussions are continuing. However, there are a number of other parties who remain interested in acquiring the club and FFA is engaged with them.
“There is no timetable to complete a sale of the Jets. FFA will complete the transaction when acceptable terms and conditions are met.”
The Herald understands that the sticking point is the asking price, which is believed to more than the initial $5 million figure.
“When it comes to price, they are far apart,” a source said.
The FFA is set to lose $2.4 million on the Jets this season, which includes the payment of debts incurred by previous owner Nathan Tinkler.
Lee, whose Ledman Group is the major sponsor of the Portuguese second division and a strong supporter of Chinese football, has visited Newcastle twice to inspect facilities.
The FFA assumed ownership of the Jets in May after revoking the licence of Tinkler after the now-bankrupt mining tycoon placed the club into voluntary administration.
A new owner appeared imminent in September when a consortium, headed by Dundee United chairman Stephen Thompson, agreed to “broad terms of the sale” only for the deal to collapse.
After collecting the wooden spoon last season, the Jets have improved significantly on the pitch under first-year head coach Scott Miller and have a mathematical chance of making the finals with three rounds remaining.