Documents have been filed in the Federal Court seeking to wind-up the Hunter Sports Group, the Knights and Jets at a hearing on February 20.

The move has shocked the Tinkler camp who only found out through the press and promised to clear up the debt before it reaches court.

"We are surprised by the move by the ATO, as we have not received any notification,” a spokesperson for the Hunter Sports Group said.

“We advise that any outstanding sum will be paid as soon as possible - well before the reported hearing date on the matter next February.”

The Tinkler-run organisation insisted it is business as usual for both the Knights and the Jets and said there would be no further comment on the issue.

The move by the tax office is another blow to Tinker's fast crumbling mining and business empire, with serious doubts over the future ownership of Newcastle's two main sporting outfits.

The Knights secured a $20m bank guarantee from Tinkler as a condition of sale but there are fears the money may never materialise due to the owner's mounting financial problems.

Tinkler has a reputation for holding off creditors until the last minute but the ATO is coming at him on a number of fronts and are determined to recoup their money.

This week the mining magnate was forced to sell his private jet and helicopter and relinquish ownership of a luxury private box at ANZ Stadium.

He has recently sold off large chunks of various other assets to meet his rising debt.

But despite his ongoing dramas, both FFA and Knights this week expressed faith in Tinkler.

"Tinks is well respected in Newcastle and has done a lot for the whole region," Knights forward Willie Mason said. "He's a dude that everyone wants to pick on and hammer him about his money.

"I don't think anyone's worried about payments. The money's there on the 15th of each month. I can't bag Tinks. He's done a great deal to help Newcastle be the club that it is now."

FFA said only yesterday they were confident the Jets would survive under Tinkler's control.

"Obviously what else is going on with his business dealings hasn't affected his ability to run the Jets," an FFA spokesman said. "We're confident the club will continue to operate as they have been."

Today the FFA said they had received assurances from the Jets that it woul dbe business as normal as far as the A-League was concerned.

"FFA has been given assurances by Hunter Sports Group, owner and operator of Newcastle Jets, that the club’s operations will not be affected," the FFA said in a statement.

They are understood to be working with the club to try to safeguard its future.

Meanwhile the PFA declined to comment.