Nathan Tinkler to quit Australian sport as intention to sell Newcastle Jets confirmed

With Nathan Tinkler's Patinack Farm racing and breeding operation set to be sold at auction next month, the embattled mining magnate's Hunter Sports Group (HSG) has also confirmed its intention to sell the Newcastle Jets Football Club.

Following HSG having ended its ownership of the Newcastle Knights NRL club in May, Tinkler has announced that he plans to sever all ties with Australian sport.

In an interview with news.com, the embattled mining magnate stated he had ended his dream of becoming a powerful force in Australian racing and for HSG to be an owner and promoter of sport in the Hunter region.

Tinkler told news.com "there will be no racing stables or football teams in my future and I stand by that.

"I got a bit sick of funding other people’s playthings and being blamed when they didn’t work out."

With businessman Gerry Harvey having called in a debt owed by Tinkler and moving to sell off Patinack Farm at an unreserved auction next month, Tinkler revealed that HSG has been in talks with foreign-based investors over the sale of the Jets' football operations and A-League licence.

In an HSG statement, Tinkler explained "German, Spanish, and English clubs are best placed to groom young talent in Australia.

"If we can do a deal with one of those countries it will put the Jets in a better spot and it will be a win for the community and everyone involved.

"We've been in talks with a number of Premier League and European clubs, they've been going on for a little while. 

"Anyone that supports or owns an A-League would understand that is the future. The transfer fees paid by the big European organisations could run an A-League club."

When HSG relinquished control of the Knights it asserted that it was 'business as usual' for the rest of the HSG portfolio.

Tinkler took control of Jets in 2010 Newcastle businessman from Con Constantine, and subsequently brought David Beckham's LA Galaxy to Newcastle for a match which generated more than $20 million worth of publicity for the Hunter region.

20th June 2014 - NRL TAKES ON NEWCASTLE KNIGHTS OWNERSHIP 

25th May 2014 - NEWCASTLE KNIGHTS LOOK TO WESTS GROUP FOR BACKING

23rd May 2014 - NATHAN TINKLER GIVES UP ON NEWCASTLE KNIGHTS, SAYS HE SAVED CLUB FROM LIQUIDATION  

19th May 2014 - HUNTER SPORTS GROUP EXPECTED TO HAND OVER NEWCASTLE KNIGHTS