The Newcastle Jets are in a dispute with Venues NSW over a $300,000 security bond required to use McDonald Jones Stadium, with a deadline of November 12 to pay the remaining $250,000 or face potential consequences.
Venues NSW chief financial officer Alastair Miller sent an email warning the Jets that failure to pay could lead to 'other action' to protect the organisation. The Jets have already paid $50,000 but are seeking a reduction in the bond, arguing it was not part of the original agreement.
The bond was introduced after Maverick Sports Partners took over the Jets' five-year venue hire agreement, which had a change of control clause due to the club's history of non-payment under previous ownership. The Jets paid the full $300,000 deposit last season and cleared outstanding debts.
A source close to the club said the Jets feel the bond is 'draconian and unfair,' especially as the club is now in a strong financial position. The club is willing to pay for two games in advance but believes the full security deposit is unreasonable.
The standoff highlights the need for a medium-sized stadium in Newcastle, as the Jets struggle with the high cost of playing at McDonald Jones Stadium, which also makes it financially unviable for the A-League Women's team to play there.
