Football Federation Australia is hoping to finalise the sale of Newcastle Jets by the end of the year after incurring millions of dollars in losses from running the club since assuming the ownership from Nathan Tinkler in May.

The news of six potential buyers having shown interest is welcome relief for the governing body, which is set to announce $2.4 million in losses from the Jets' operational costs this season, after a proposed sale to Dundee United chairman Stephen Thompson collapsed late last year.

Significant legacy debt associated with the club compounded the FFA's hefty losses in the first year. These could reach more than $4 million by the end of next season if the governing body is unable to sell the club within the stated time frame. It's understood the FFA was forced to honour existing debt associated with the club, including outstanding superannuation owed to players, unpaid stadium costs and loan fees owed to foreign clubs. Having cleared these outstanding debts, the forecast loss for next season will be trimmed to approximately $1.8 million.

"FFA is not in a position to comment on financial information relating to the Newcastle Jets while a comprehensive sale process is under way," an FFA representative said.