The Newcastle Jets have done an about face and decided to remain in Australia's professional football league, three weeks after team owners said they were relinquishing their franchise following a loss of confidence in Football Federation Australia.
Hunter Sports Group, owned by Nathan Tinkler, said last month it had suffered an 'irrevocable breakdown in confidence' in the FFA.
However, after mining magnate Tinkler met with FFA Chairman Frank Lowy, the Jets agreed to continue in the 10-team league.
The agreement is welcome news for the FFA, who have endured a difficult year. In February, they terminated the licence of Gold Coast United after a row over a slogan on the team shirts with mining billionaire Clive Palmer accusing the FFA of acting like dictators.
The demise of Gold Coast was offset by the FFA's announcement last month that a new team would take part next season called Western Sydney.