Newcastle Jets are on the brink of becoming coachless and ownerless as the A-League club sink deeper into the turmoil engulfing Australian football.
Newcastle coach Carl Robinson is expected to be named Western Sydney Wanderers coach in the coming days as CEO Lawrie McKinna tries to find the club new owners.
Former Newcastle owner Martin Lee is unable to continue funding the team after COVID19 had a significant impact on his business interests, while Chinese investment firm Sky Jade Capital was set to buy the club but backed out at the last minute.
The financial collapse has been particularly sudden given the team's incredible success towards the end of last season under Robinson, and their Grand Final appearance at McDonald Jones stadium two years ago.
Sky Jade's withdrawal of interest is merely the latest in a series of failed ownership takeovers of A-League clubs, with the Central Coast Mariners also subject to many rumoured, failed overtures.
The Jets have re-signed Bernie Ibini, Nigel Boogard and Kosta Petratos for next season and loaned Ramy Najjarine from Melbourne City, while Dimi Petratos (Al-Wehda) and Abdiel Arroyo (Maccabi Petah) have left.
Matt Millar (loaned to Shrewsbury Town), James Donachie (loaned to FC Goa) have also been loaned out for next season, while Joe Ledley has returned to the UK and will be difficult to bring back into Australia.
The Sydney Morning Herald is reporting that FFA are having ongoing meetings to try to find a solution to Newcastle's ownership issues, with A-league clubs set to gain independence from FFA in the next few weeks.
One possible touted solution is that current A-League club owners pool money to take over the Jets as a consortium, with the club currently holding significant debts.
FFA is reportedly unlikely to be in a financial position to bail Newcastle out without new owner interest on the immediate horizon, which places Newcastle in an increasingly dire situation moving forward.