The Knights launched a winding-up application against the Jets last month in an attempt to recover rent and corporate-catering costs dating back almost 12 months for the use of EnergyAustralia Stadium.

The two clubs squared off this week in the Supreme Court but proceedings were adjourned until Tuesday.

Knights chairman Rob Tew and Jets owner Con Constantine both told The Herald this week they would prefer to resolve the matter amicably if it was possible.

The Jets contacted the Knights yesterday afternoon to request a meeting.

Tew travelled with solicitor and board member Nick Dan and financial controller Phil Blackford for negotiations with Constantine and Jets chief executive John Tsatsimas at the A-League club's office in Hunter St.

Tew said last night that the Jets had "accepted full responsibility for the debt" and indicated they would repay a "large slab initially" and the balance in instalments.

The Knights expect to receive the first payment on Monday.

"Their up-front commitment was sufficient to give us confidence and we've extended some trust in them," Tew said.

Tsatsimas said the Jets had "some very encouraging discussions" with their Knights counterparts.

"I think it's fundamental that both teams continue to succeed and prosper in the Hunter and I think we're both on the same page in terms of that," Tsatsimas said.

"We think it's been resolved, so we move on."

The two clubs have been at loggerheads regularly for the past five years over their shared usage of the State Government-owned EnergyAustralia Stadium.

The Knights, as major tenants, sublet the facility to the Jets, who receive no income from naming-rights sponsorship or match-day sales of food and drink.

The uneasy relationship erupted into outright animosity on February 12 when The Herald revealed the Knights were suing the Jets to recover unpaid stadium fees dating back almost 12 months.