This is from "The Australian" today.

Concerns have been raised over Newcastle Jets owner Martin Lee’s continued involvement with the club amid suggestions he is considering selling if the right offer comes along.

The Weekend Australian has been told the Chinese billionaire could be looking to get out unless he can find an investor or two to help carry the financial burden of running the A-League club.

At the very least, it has been revealed the Jets will have to considerably tighten the belt next season, as Lee has ordered cuts in the budget for players and staff.

This comes on top of the club’s disappointing season in which they failed to make the playoffs, after finishing runners-up following the controversial loss to Melbourne Victory in the grand final 12 months ago.

While confirming there are some issues, Jets chief executive Lawrie McKinna looked to allay fears regarding the situation at the club when contacted by The Weekend Australian yesterday.

McKinna said he spent several days with Lee in China last week sorting out plans for next season.

“He did want to sell the club 100 per cent lock, stock and barrel about nine months ago and there were a couple of interested parties,” McKinna said. “But nothing came of it. Martin’s preference now is that he wants to keep the club, but have a shareholder involved to help take some of the financial load.

“But he would look at selling if someone wants to buy 51 per cent or even 100 per cent … he would definitely look at that.”

With the help of McKinna, Lee took over the club in June 2016, just before the start of the 2016-17 A-League season. He shelled out $5.5 million for the licence from Football Federation Australia, which had taken control after previous owner Nathan Tinkler struck financial problems.

Lee reportedly lost $3m in the first season and was subsequently hit in the final quarter of last year when his company, the Ledman Group, was seriously affected by Donald Trump’s aggressive trade war with China.

The Chinese LED lighting industry was slapped with a 25 per cent US tariff in an effort to reduce the trade imbalance between the US and China. As a consequence, Lee’s LED lighting fortune was cut in half in only five months.

However, the Ledman Group share price is up 35 per cent since January 1 but it is still worth half of what it was a year ago. It appears the company’s profits fell in the quarter after the Trump tariffs were announced.

McKinna said Lee’s company had ridden the storm because it has “now invested a lot of money in new technology that is selling very well”.

McKinna, who has done a wonderful job steering the Jets back as a force in Australian soccer, said the club’s budget for next season has yet to be set but confirmed there will be some unavoidable cuts: “We will be cutting the budget a bit but the amount has not yet been finalised.

“That is why I was in China last week. There is still a bit to do and we are waiting for confirmation from China.

“The cuts will be to bits and pieces, player and staff budgets.”

Just how the cuts will affect the club’s recruitment of players for next season remains to be seen. The Jets spent about $4m on playing staff last season.

What we do know is that Newcastle won’t be looking to sign a marquee player for next season.

“When you include the marquee, we spent a fair bit over the salary cap last season as we did the previous season,” McKinna said.

The Jets released six players last week, including marquee Ronny Vargas and Brazilian import Jair, and that will free up some money for McKinna and coach Ernie Merrick to work with.

They are still negotiating with class striker Roy O’Donovan, who is looking for a new two-year deal.