IT'S a familiar situation for Newcastle Jets fans, but the sport's governing body says it has stripped Chinese owner Martin Lee of his franchise licence, with ownership of the club being held by the code itself, until a new owner can be found.
The statement issued by the A-League said a new Jets licence had been issued to a company "owned and controlled by a consortium of Australian Professional Leagues investors".
- THE A-Leaguestatement
The APL is the game's new governing body, the result of a recently finalised restructure, with the former administrator, Football Australia, now represented at board level, along with the clubs themselves.
The A-League statement stressed that Mr Lee had lost the Jets licence after being unable to either pay the club's debts or sell the club to another investor, leaving "no choice" but to terminate the licence.
These facts are true, as far as they go, but it would be unfair to Mr Lee to describe them as the entire story.
The Nathan Tinkler era was as short-lived as it was controversial, but before him, Parklea Markets founder Con Constantine had struggled for years to keep the club afloat, despite pouring millions of his own money into the team.
Mr Lee has also put an estimated $15 million into the club, having bought it from the game's administration after the Tinkler era.
The game may be simply ensuring it makes its grounds for moving crystal clear to the public, in case Mr Lee or anyone else cries foul in the aftermath, but a word of thanks for his efforts - not to mention his money - would not have gone astray in the public statement.
Mr Lee has been described as an "absentee" owner.
His company, Ledman (the "led" stands for the "light emitting diode" technology in its products), had invested in other football clubs before the Jets in 2016, but his business was reportedly hit by the US-China tariff wars, and there were typically opaque reports from China that Mr Lee, along with other Chinese business figures, had been forced to stop spending abroad.
Whatever happens from here, the Jets must not be allowed to fold.
We in the Hunter like to portray ourselves as underdogs who take adversity in our stride.
We need to support our team, and show those who saw green pastures elsewhere that there is no shortage of pride in the jersey.
It's a pinch from the Knights, but it's time, again, to prove that "blue and red, never dead".
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