NATHAN TINKLER has less than 24 hours to save his ownership of the Jets, as the financial crisis engulfing the club finally comes to a head.

Newcastle received notice from Football Federation Australia on Tuesday that unless this month’s salaries to players and staff are in their bank accounts by close of business Wednesday, Tinkler will have his A-League licence revoked and FFA will step in to run the club in the short term.

The salaries were meant to be paid last Friday but, The Daily Telegraph understands, Tinkler told club officials yesterday that there would be no more money injected into the business. With the Australian Taxation Office already confiscating the monthly grant from FFA which is meant to underwrite player payments, due to Tinkler’s outstanding tax liabilities, the club is on the verge of trading while insolvent.

That would be an automatic licence breach and it’s understood FFA have finally lost patience with Tinkler after setting him a series of deadlines, and with hundreds of thousands of dollars of debt still outstanding. That includes a substantial quantity of superannuation and back pay, as well as rent owed on the club’s training facilities at Newcastle University — a debt that has seen the Jets players barred from using it.

The delay in receiving pay this week is the third time in four months that the salaries have been late. Though coach Phil Stubbins is in Europe and has spoken optimistically of seeking out a marquee signing, FFA’s priority will be to stabilise the business and address the immediate debts so that pre-season training can be scheduled for when the players return from their current holiday.

media_camera It’s been a tough season for the Newcastle Jets.

“FFA has today sent correspondence to the Newcastle Jets in relation to the non-payment of players and staff,” said an FFA spokesperson. “This situation needs to be resolved urgently and the club management understands that meeting basic obligations is imperative. FFA is preparing to take steps to address this matter.”

There seems little hope of bringing a new owner in immediately, despite interest in recent months from the chairman of Scottish club Dundee United, Stephen Thompson, in taking the club over. As recently as February Thompson had spoken of the potential for investment in the A-League but Tinkler had sought a purchase price of $5m.

There has also been speculation about a group of local businessmen taking over but no white knight is currently on the horizon. The Jets ultimatum comes with serious question marks hanging over Brisbane Roar, wit the Bakrie family that owns it under financial pressure and a number of senior staff having quit.

Meanwhile Western Sydney’s assistant coach, Ian Crook, has stepped down to run the club’s academy. Crook, a former head coach of Sydney FC, has an excellent track record in working with youth players. Former Melbourne City assistant Hayden Foxe, who joined the club last year, is likely to be appointed as Tony Popovic’s assistant before the players report back for pre-season training.

Originally published as FFA set to strip Tinkler of licence