The Newcastle Jets will remain in the A-League after Football Federation Australia and Hunter Sports Group reached an agreement.
Nathan Tinkler's HSG handed back the Jets' A-League licence and engaged in a public war of words with the governing body in April.
Tinkler was irked by the licence fee HSG paid for the Jets and insurance issues surrounding injured marquee star Jason Culina.
But the billionaire coal tycoon made peace with the FFA following meetings with chairman Frank Lowy, ensuring the future of the sport in the Hunter Valley.
"It was a good opportunity for Nathan and I to meet face-to-face and resolve the issues that had affected the relationship between FFA and HSG,'' Lowy said. "FFA has made some concessions in good faith in order to resolve the matters.
"When Nathan first took on the Newcastle Jets, I welcomed his commitment to running a strong and successful A-League club in Newcastle on behalf of the community of the Hunter region.
"Today, my confidence is renewed over Nathan's personal drive to make the Jets and the Hyundai A-League successful.
"We agreed on a way forward that addresses the issues HSG have raised and we are now going to get on with developing the game together in a key region for football.''
Tinkler, who also owns NRL side the Newcastle Knights, reaffirmed his commitment to the Jets and pledged to work together with the FFA moving forward.
"Frank Lowy flew to Brisbane to meet with me face-to-face and I took that as a sign of goodwill,'' Tinkler said.
"We now have a way forward and I remain committed to ensuring the Newcastle Jets is one of the most successful clubs in the Hyundai A-League.
"I am delighted to be able to support the Newcastle Jets on behalf of football fans in the Hunter region and to continue to build a strong relationship with the community.
"When I first made this commitment I did it on behalf of the community and I am committed to further developing football and sport in a community I grew up in and am proud of.''