Newcastle Jets executive chairman Shane Mattiske has confirmed FC32 football group are "in the mix" of potential buyers for the club but it appears unlikely a sale will be negotiated by the end of February as hoped.
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The Jets, who have been under caretaker ownership for the past three years, were officially put on the market in October through financial advisory firm KordaMentha with the aim to have a deal done by Christmas.
Strong interest was reported but Christmas came and went with no news.
But that seemed doubtful as the final day of February arrived on Thursday.
The Jets have been linked to an overseas consortium believed to include Italian billionaire, Danilo Iervolino, who also owns Serie A club Salernitana.
On Wednesday evening, ftbl.com.au reported FC32 were on a shortlist of would-be buyers for the club, saying the football group already owned Swiss second tier club AC Bellinzona and had a share in Iervolino's Serie A side.
The Newcastle Herald understands there is genuine interest in the club from potential buyers but news of the A-League's financial concerns in January had proven a stumbling block in getting a deal struck.
Mattiske reiterated the club's focus remained on "finalising a sale" without revealing who all of the interested parties were, and said the club was "working through the complexities of the sale".
"There's real interest and positivity around the club and the academy structure and the development-focused model we've created across our men's and women's teams supported by the 13 teams in our academies," Mattiske said.
READ MORE: All of the latest Newcastle Jets news
FC32 are reportedly partially backed by investment group Athletic Ventures with plans to build an extensive club portfolio.
The group is said to be co-founded by former beach volleyball star Christie Jenkins and fellow Australian Paul Francis, who is an ex-Nike and adidas executive.
A number of prospective buyers, including an FC32 representative, are believed to have been to the club since it was put on the market to speak with players, coaches plus staff and to view the Jets' facilities.
The Jets have been controlled since early 2021 by a group of other A-Leagues clubs, led by Sydney FC, Western Sydney and Western United, after Chinese businessman Martin Lee was stripped of his franchise licence over unpaid debts and a lack of investment.
Meanwhile, the Jets are facing a big weekend at home for their men's and women's sides.
The men host bitter rivals Central Coast at McDonald Jones Stadium on Saturday (6pm) while the women face a crucial clash with Perth at Maitland Sportsground on Sunday (4pm).
The Jets women can consolidate their place in the top six with another win while the men have a mountain to climb to make finals from 11th position.