The Jets' future remains in the balance after the Newcastle Herald revealed on Thursday that US-based consortium FC32 had pulled out of talks to take over the club.

Jets boss Shane Mattiske, while hopeful of kick-starting discussions with FC32, insisted there were a number of alternative options.

"There are at least four parties actively involved in the due-diligence process," Mattiske said. "Two of them have made formal offers."

The Herald understands that a Melbourne consortium, which was previously an under-bidder to to FC32, has resurfaced and strengthened its position.

It is understood that a fresh entity, which has a stake in a second-tier club in England, has also entered the frame, setting up the possibility of a sister-club arrangement.

Australian Professional Leagues (APL) chairman Stephen Conroy indicated last month that the Jets had until the end of the season to finalise a new owner or risked folding.

FC32, which is headed by Australian Paul Francis and plans to set-up a network of clubs around the world, had been exploring a takeover of the Jets for six months.

However, after agreeing on a purchase price, the group sought to renegotiate after the APL was unable to provide key information about the league and its financial projections.

FC32 submitted a revised deal, but it was rejected by Jets current custodians - the chairman of rival clubs who have been bankrolling the club since 2021.

"Our best bid was not competitive enough," Francis told the Herald.

The lack of cooperation from the APL had a major impact on FC32's decision to walk away.

"From a business point of view, we can't take that risk," Francis said.

Jets coach Rob Stanton addressed the players on Friday about the latest development and is confident it won't be too big a distraction ahead of the clash against Sydney FC at McDonald Jones Stadium on Sunday.

"We just have to focus on football because that is the thing we can control," Stanton said. "I have been told it will happen. We still don't know, they are only words at the moment.

"I would be very disappointed if the powers at be allowed the club to fold, a foundation club to go under. It would reflect poorly on the game and who runs the game.

"There are three parties in negotiations - the APL, the current owners and prospective buyers. You have to keep everyone on point and in line with what they want.

"The current owners have contributed a lot to the club. Without them the club would be long gone. They are entitled to do what they need to do to recoup their funds. Hopefully a solution can be found for the good of the club. It would be a sad day for Newcastle if the club wasn't here. I'm confident and have the belief that it will be. We have to wait and let it play out."

Stanton had been in regular contact with FC32 and was aligned with their plans to set-up the club, with a focus on developing players.

"You have to build from the bottom up," Stanton said. "FC32 had that vision. It is a way for the future. Some clubs are on that path in the A-Lleague. I think Newcastle is ready for that.

"If you throw millions into it at the top end, you might get success. If you stop putting money in where does it go from there."

For now, Stanton's focus is on Sydney FC.

"We go in as an underdog," Stanton said. "We like the challenge of playing the top teams. I feel confident we are going to win."

The Jets are coming off a scoreless draw with Melbourne City. While it was a resolute defensive effort, the Jets haven't scored in the past two games.

Gun striker Apostolos Stamatelopoulis, after banging in 14 goals in 17 games, hasn't hit the target in four.

"We have been super competitive in every game," Stanton said. "In the past few weeks, we haven't been creating as much, but we have stabilised a bit defensively.

"Stamma is working hard. He assisted for two goals in Perth. He had a shot at the top of the box last week. On another day it goes in. Teams are obviously paying more attention to him, marking him a bit tighter. That is what happens when I player is scoring goals. He has to find another level. I'm not too concerned by it. I think he has already proven a lot of people wrong."

Sydney are backing up from a midweek trip to Perth, where they had 1-all draw and played 56 minutes with 10 men after defender Jake Girwood-Reich was sent off.

"I don't expect any drop off from them," Stanton said.

The heavy rain which has soaked the region combined with the fact the Knights played the Dragon in an NRL game on Friday, will impact the playing surface.

"The state of the pitch does affect the game," Stanton said. "In the end , it's the same for both teams. I'm not complaining about it."