A consortium made up of several A-Leagues clubs has controlled the Jets since 2021, after the previous owner failed to invest in the club or pay off debts.
The owners of the Newcastle Jets have put the financially strained A-League club up for sale in an attempt to find a business or person that can provide long-term funding and support young talent.
Mr Lee had purchased the club for $5.5 million in 2016 but had put it up for sale by 2019, having tipped in about $15 million in three years. The sale process comes four months after the resignation of the team’s coach, Arthur Papas, who walked away amid concerns about the instability at the club and lack of funding. Papas, who was once an assistant coach to Tottenham Hotspurs manager Ange Postecoglou, urged stakeholders last year to resolve the club’s ownership issue and warned it might not exist if a permanent owner wasn’t found.