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Newcastle Jets deny winding-up order over owner Nathan Tinkler's unpaid debts

The mining magnate's financial problems have now seemingly placed his A-League club in the firing line, but HSG have denied receiving notification of a winding-up order

GOAL.com Indonesia   By GOAL.COM


UPDATE: Newcastle Jets parent company Hunter Sports Group have denied any knowledge of an Australian Tax Office-issued winding-up order for the club, claiming it is "business as usual".

The immediate future of the Jets had seemingly been plunged into doubt after the reports the ATO had acted on monies owed by HSG, who are owned by embattled former billionaire Nathan Tinkler.

The financial woes of the mining magnate had reportedly found their way to Tinkler's sport holdings, with HSG said to hold debts of AU$2.7 million.

Despite Football Federation Australia telling Goal.com on Wednesday they had "no concerns" about Tinkler's ability to run the A-League club, it was claimed Newcastle Jets Pty. Ltd. reportedly owe AU$1.063 million.

But in a statement released soon after, HSG stated they had only heard reports of the winding-up order via the media and were confident in the future of both the Jets and National Rugby League club the Newcastle Knights.

"We are surprised by the move by the ATO, as we have not received 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."

In their own statement, the FFA said they had "been given assurances by Hunter Sports Group, owner and operator of Newcastle Jets, that the club’s operations will not be affected".

But given the speculation surrounding Tinkler's mining and business empire, serious fears still remain for his sporting entities.

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 several fronts and are determined to recoup their money.

Tinkler has been 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.

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