A-League's Newcastle given deadline to pay debt
Feb. 03, 2015
SYDNEY (AP) — Football Federation Australia has given the Newcastle Jets 14 days to fix operational and financial problems or face losing their license to play in the A-League.
The ultimatum, delivered Tuesday, came after Newcastle — owned by mining magnate Nathan Tinkler — missed a Jan. 31 deadline to repay $500,000 owed to creditors.
FFA chief executive David Gallop said "we've had concerns about the state of the club for some time now. We've given the club formal notice around their financial position and we need to put things in place quickly. It's our responsibility to make sure that the club is aware of its obligations and fills those obligations in a timely manner. The consequences are obvious."
FFA could take over the club if its terms are not met.