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Newcastle Jets are back on the market after a collapse in talks between Football Federation Australia and the A-League club's proposed buyer, Dundee United chairman Stephen Thompson.

Thompson, the majority shareholder in the Scottish Premier League club, flagged his interest in taking over the Jets as head of a consortium back in May when the FFA seized back ownership from Nathan Tinkler.

The sale appeared to be imminent after the two parties reached a broad agreement of terms in September.

However the FFA released a statement on Thursday saying while they had planned to complete the transaction before the A-League season kicked off, the deal was put on hold because the Thompson group requested more time to arrange their finances.

Australia's governing body said the group had now failed to meet the informal October 31 deadline, meaning they have lost their exclusivity to the Jets.

Read more at FoxSports.com.au