Hunter Sports Group followed through with their decision to return the Jets' license on Friday after failing to reach a compromise with the game's governing body, Football Federation Australia.

The move comes as a further blow to the FFA just two days before the A-League grand final between Brisbane Roar and Perth Glory, following the governing body's own decision to rescind Gold Coast United's license on February 29.

Hunter Sports Group chief executive Troy Palmer met with FFA boss Ben Buckley to discuss several issues, including the original acquisition of the Jets licence.

"This inflexible stance highlights the inequitable position and ongoing discrimination in which the Jets have been placed over the past 18 months," the Jets said in a statement.

"The FFA's mindset of being unwilling to negotiate provides a clear impression that FFA does not want the Newcastle Jets to be part of the football family."

The Jets believe any legal action 'will bring transparency and integrity to dealings' which the Hunter Sports Group claim to have sought throughout their involvement in the A-League.

Despite apparently being set to drop out of the competition, Newcastle have promised to invest further in junior development and an elite academy in the Hunter region.

The Jets proposed various criteria which they wanted the FFA to adhere to in order to sway their decision, but the pitch was flatly rejected by Buckley.

Newcastle wanted their licence fee amended to fall in line with the lesser fees paid by the owners of Adelaide United, whose transaction was completed just two months after that of the Jets.

The Jets also demanded former captain Jason Culina's insurance matter be settled immediately, with the financial liability being shared equally between the Newcastle Jets, the FFA and the player.

If those requirements were met the Jets said they would continue with their A-League license until June 30 2020.