There must be something about unpopular businessmen and clubs named ‘Newcastle.’ The latest victim is the A League club Newcastle Jets, who seem to be falling from bad to worse at breakneck speed. Unfortunately for the club, nothing appears able to break their fall.

So what’s the story? Sifting through the wreckage (with more still falling from the sky, mind you) makes it difficult to pinpoint the crux of the meltdown sweeping over the club in the last few days.

The Jets are currently owned by fallen mining magnate Nathan Tinkler, who infamously lost close to half his wealth back in 2012. He has notably suffered financial difficulties ever since. Tinkler, who previously owned NRL Franchise Newcastle Knights, before relinquish control last year has attempted a similar play with the Jets, putting them up for sale in August 2014. Tinkler was quoted at the time saying (in regards to the sale) that, “I can’t wait to get them out the door too.”

Despite interest from overseas, no sale materialised, likely due to the exorbitant asking price set by Tinkler – rumoured to be $5m AUD. Earlier this month, Tinkler announced he was taking the club off the market, which is rumoured to have upset the powerbrokers at Football Federation Australia (FFA) who have concerns that Tinkler does not have the means to fund the Jets’ operations. The club owe a reported $140,000 to debtors and the FFA have set a deadline of 31 January 2015 for repayment. Until that date, the FFA have advised they cannot intervene, as Tinkler has technically not acted in breach of his license agreement.

While Tinkler and the FFA at an impasse is nothing new, it’s the events transpiring at the club that have raised alarm bells.

Just earlier this month, the Jets lost their Chief Executive (Robbie Middleby) and chairman (Ray Baartz) to resignations. Tinkler has instated himself as chairman, though a new chief executive has yet to surface. Unfortunately for all concerned with the club, this would ultimately prove to be first of a series of waves to wash through the club. Since these resignations, the axe has been swung savagely and with inconsequential disregard at the club – Tinkler going so far as to say the developments were merely “a storm in a teacup”.

Star recruit and former Johnny Warren medalist Marco Flores had his contract mutually terminated just 6 months into his deal so he could join US side Jacksonville Armada. Mark Birighitti, the up and coming goalkeeper who made Ange Postecoglou’s training squad for the world cup last year has been loaned out to Italian Series B side AS Varese. Defender Sam Gallaway was allowed to join bottom side Western Sydney Wanderers while Northern Ireland import Jonny Steele was released in December.

The backroom staff haven’t been spared either with assistant coaches Clayton Zane, Andrew Packer and Neil Young given their marching orders. Just today, youth coach Michael Bridges also resigned.

The already depleted squad, which sits second last on the A League ladder, also sensationally sacked a further 5 players. Captain and former Dutch international Kew Jaliens has had his contract terminated along with former Socceroos David Carney, Billy Celeski and Adrian Madaschi. Perhaps the biggest name of the group is Joel Griffiths, who won the Johnny Warren medal (awarded for the best player in the national league) as well as the golden boot with the Jets back in the 07/08 season. Griffiths’ efforts that season helped fire the Jets to their first and only A League title – a far cry to the current chaos that reigns at the club.

With A League teams requiring clubs to have a minimum of 20 players in their squads, it will be interesting to see if the Jets can find the numbers. The Jets succumbed to a 7-0 loss last weekend and the fractured and dwindling squad threatened to go on strike midweek – perhaps causing the flashpoint for the sackings this week as Tinkler vehemently stands by his embattled coach, Phil Stubbins. With the fallout of this week’s events it’s difficult to see any improvement coming on the pitch and another heavy defeat seems inevitable.

When the dust settles, as it always does, it will be the fans who are left to pick up the pieces; a sad and sorry state for the people of Newcastle which has a strong affinity and proud association with the round ball game. The Jets’ can boast to having more paid up members than the current top 2 teams, Perth Glory and Adelaide United while having a higher average attendance than both new glamour club Melbourne City and current table toppers Perth – all while only managing to register 1 win from 15 games this season.

Just earlier this week, a sold out stadium braved the wet conditions to cheer on the Socceroos to a semi-final victory over the United Arab Emirates in Newcastle validating the local interest in the game. I can only hope the Jets do not join the list of failed franchises and that the damage done by this debacle does not deter the local people from their continued and admirable loyalty and support to their team.