THE Ice Hockey Players' Association (IHPA) has made a "last ditch" compromise offer in an effort to resolve the crisis at the Newcastle Jesters club.

The union's executive director, Jo Collins, described the situation as "critical and almost terminal" and said it was now down to the club's owners, Fablon Investments, and the players involved to accept the offer.

Ms Collins unveiled for the first time the exact figure owed, £148,260.90, and said she hoped the saga could be ended this week.

She said: "In an effort to find a compromise, I have personally put together a proposal that has been transmitted to the Newcastle owners which I hope will prove to be the way forward and put an end to this nightmare that has so seriously affected the image of the sport of ice hockey."

The union's offer comes as reports in national ice hockey press suggest a "major international company" is waiting in the wings to take over the club on the grounds that they pay no money to the current owners and are not left with any debts.

Ms Collins continued: "The IHPA is prepared to make a compromise without giving up any rights that the players have to all of their money and there is still time to achieve a satisfactory result.

"I am anxious not only to secure payment for last year's players but also to provide financial security and jobs for those players brought in for this season.

"I just hope that the Newcastle owners, their investors and all those involved behind the scenes will grasp the olive branch firmly with both hands."

Read more about Newcastle Jesters here.