Australian football on Tuesday refused billionaire Nathan Tinkler's bid to dump his licence for the Newcastle Jets, setting the stage for a bitter standoff in the troubled A-League. Coal tycoon Tinkler's Hunter Sports Group (HSG) said it would turn in its licence and not field a Jets side in the 2012/13 season due to an "irrevocable breakdown in confidence" in Football Federation Australia (FFA).
HSG said it was walking away from the club "effective immediately" Tuesday, citing irreconcilable differences with FFA management over finances and other issues. Tinkler, Australia's youngest billionaire at 36, came to the Jets' rescue less than 18 months ago, salvaging the team after it ran out of money to pay players and stadium fees.
But the FFA said it did not accept that the Newcastle Jets had the right to return their A-League licence and expected the team to honour their 10-year playing contract through to 2020. FFA chief Ben Buckley said the footballing body had "very sound" legal advice that HSG had to see out its contract and would "work overtime" to hold the group to account.
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