The Jets are in the market for a head tactician after the shock departure of Welshman Carl Robinson, who was granted a release on Thursday to join Western Sydney.

"That will be a decision for the new owners ... it's not going to be hard to attract a new coach," McKinna said at a press conference on Thursday that coincided with the Wanderers announcing they had signed Robinson to a three-season deal.

Uncertainty surrounding the financial position of Chinese businessman Martin Lee, who bought Newcastle's A-League franchise licence from Football Federation Australia four years ago, was a factor in Robinson's decision to exercise a get-out clause, barely 10 games into a three-and-a-half-year contract.

Lee has been trying to sell the Jets for more than 12 months, and McKinna revealed on Thursday: "The owner has not given us one penny, for more than a year."

McKinna admitted the Jets were in debt but had continued paying players and staff their entitlements, despite operating on a "shoestring budget".

"The club has not had any distribution from Martin Lee since October 9, 2019 ... He just said: 'I won't pay any more money in'," McKinna said, adding that Lee's tenure as owner had cost him $15 million.

He said "multiple" options for the Jets were being assessed by Football Federation Australia officials and was hopeful a suitable replacement for Lee would soon emerge.

"I'd be hoping in the next week or so for an announcement that we've got a buyer," McKinna said.

"Then due diligence, documents and things have to be sorted, but you'd hope in the next three or four weeks it'll all be done and dusted."

FFA chief executive James Johnson said it was disappointing that Lee "hasn't been able to provide the club with the ongoing financial support it requires during such a challenging time in Australia and around the globe.

"A change of ownership is clearly needed to revitalise the club."

Johnson was confident a new owner would be agreed "in good time" but his priority was to make the right decision, not a quick one.

McKinna admitted that in the absence of Lee's funding, he had been concerned about the club's viability.

"If you see down the high street, most of the shops are just closed and they [the business owners] walk away," he said.

"We could have done that. There have been times when it's been close for the club.

"But we've soldiered on. We've managed, we've got by, we've adapted ... we've done it because it's the right thing for the team and the town. This place deserves an A-League team."

Asked about the worst-case scenario, McKinna replied: "We have got bills to pay.

"If we couldn't make those commitments, that's when FFA could step in and take the licence away and close the team down ... we've been working through that, to make sure that doesn't happen for the club."

McKinna said the new owner, or owners, would be expected to pay out the club's debts as part of the proposed takeover.

"We do owe money, and we've got bills to pay, like a lot of other people," he said.

"But we are working through that and that's where the new owner comes in.

"That's why we need that financial injection, so that all debts are paid in full.

"It won't be like in the past when [former owners Nathan] Tinkler left, and Con Constantine. There were debts left in town. The deal is that all debts will be paid in full."

McKinna said he thought Lee would have offloaded the Jets eight months ago, after at one point discussing a possible $15 million sale. He was confident the Jets could eventually become financially sustainable.

"I think we can," he said.

"If you get the right model, the right TV deal, spend within your means - which we've done - I think it's definitely sustainable.

"And that's what I sell to potential owners ... nobody wants to make money out of the business, but you want to cover costs and cover that investment."

Johnson described the Jets as "a club with a proud history and tradition" who were integral to both the A-League and W-League.

"It has only been two years since they participated in an A-League grand final," he said.

"The club has regularly demonstrated in its history that they can compete strongly in the A-League and W-League and along with the community have made a strong contribution to all parts of the game (including the development of Socceroos and Matildas).

"The Newcastle region needs and deserves a strong, vibrant and successful club."