Nathan Tinkler's licence to own A-League club Newcastle Jets has been terminated.
Tinkler had earlier placed the club into voluntary administration with debts of $2.7 million.
Football Federation Australia says it will own and control a new licence to be issued to a fresh entity.
FFA said it terminated the licence of Tinkler's Hunter Sports Group (HSG) because of material breaches of the licence.
"HSG has behaved in a deplorable way towards the players and staff of the club in failing to meet basic obligations to pay wages," FFA chief executive David Gallop said in a statement on Wednesday.
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