The parties were close to an agreement at the end of August, but FFA’s valuation of the licence it took back from former mining baron Nathan Tinkler, the on-going cost of regenerating the franchise and a rethinking of his own financial model has led to Thompson cooling his interest.
It’s understood FFA is in talks with another potential purchaser but its unknown how advanced those discussions are.
While the club has flourished since FFA seized back their ownership, as Tinkler teetered under an avalanche of debt, the current agreement involves a significant drain on the ruling body's finite resources.
It is projected that any potential owner would need to be prepared to bleed around $1.5 million a season, ahead of a new TV deal in 2017, which would likely raise the grant made available to clubs.
The Jets are in third spot after four A-League games, just a point off leaders Sydney FC, and have been invigorated by new coach Scott Miller and a heavily rejigged squad.
Thompson, who has problems closer to home with the Tangerines propping up the Scottish Premiership and new Finnish coach Mixu Paatelainen at the helm, declined to comment when contacted by The World Game, citing a pre-existing confidentiality agreement with FFA.
But it's understood that Thompson’s consortium, which included fellow Tangerines director Mike Martin, was looking to recruit investors based in Newcastle, as potential shareholders in the venture, but was unable to unearth any significant backing.
The feeling is that the tumultuous eras presided over by former owner Con Constantine and then Tinkler, may have cast a pall over the club and spooked local backers, at least in the short-term.
While unwilling to comment publicly, Thompson has not totally closed the door on a possible purchase, though that is now a receding prospect.
Ironically, Thomson had agreed to buy the club for $3.5 million from Tinkler just days before he was deposed by the governing body, after breaching the terms of his licence by placing the club in voluntary receivership.
