Judging from the volte-face we saw from Nathan Tinkler and the Hunter Sports Group this week in agreeing to get behind the Newcastle Jets once again and return to the A-League (Football Federation Australia, of course, will tell you they never left), it would appear the FFA is firmly in control of Australian football and the combustible mining billionaire's backing of the club is a sign of his faith in the domestic product.
That's certainly what the FFA would like you to believe in the wake of Tinkler's emergency summit with chairman Frank Lowy and the first meeting of the Joint A-League Strategic Committee (JALSC), a forum designed to give clubs more of a say in the running of the local competition.
The FFA press release gave that impression. There was talk of a "new era of collaboration" and "a spirit of co-operation". A laying down of arms. Letting bygones be bygones. Blahdey blahdey blah.
The fact is the FFA has been too arrogant, too cocksure, too unyielding for far too long and only made concessions because an equally arrogant, cocksure, unyielding entity - the formidable frame of Tinkler - called its bluff and won.
All Tinkler has done this week apart from gain those concessions is merely recommit to the licence he acquired to take the Jets through to 2020.
He made it plain he's doing it only for his local community. Not for the FFA. Remember what he said about the A-League only a few weeks ago: "failure" was "guaranteed" under the present administration.
It's hardly a watershed moment for the game.
Indeed, the most significant seismic activity we've seen is chairman Frank Lowy hauling himself away from his desk and flying his private jet to Brisbane to meet Tinkler.
All hail the chairman. Coming to the rescue again!
Why didn't Lowy do it earlier, in so doing avoiding the crisis point of Tinkler walking away from the game and slamming the door behind him, belittling the A-League as he went?
Why have relations with Clive Palmer, a fellow billionaire formerly held up as a triumphant figure by the FFA when he was given the Gold Coast United licence all those years ago, become so bad that it now appears Palmer has made it one of his missions in life to leave the FFA a smoking ruin?
His rival Football Australia organisation reputedly has a $100 million war chest.
What is Lowy at the FFA for? If he's not an active chairman, working 24/7 on saving the shambles that Australian soccer now finds itself in, how effective is he?
The FFA's PR spin doctors will have you believe Lowy's Midas touch has brought the Tinkler situation to heel.
My view is that it got so bad in the first place because he simply hasn't been doing his job well enough. If you are going to invite other billionaires to invest in the game, then be able to deal with their own egos and keep them happy.
In that respect, Lowy has not fulfilled expectations.
The list of people with grievances against the FFA is a long one. And that's especially alarming when there was such a tremendous amount of goodwill for it when it was instituted in 2003, including from this columnist, who along with a group of other concerned stakeholders personally petitioned Lowy in 2001 to come back to soccer.
That it is held in such low esteem despite been given so many privileges - from fans, from the media, from government - really is a scandal of epic proportions. Our collective faith in Lowy, I believe, was misplaced.
He was not the "White Knight". He has been a major disappointment.
Let's not mince words: the FFA has been managed poorly. And the buck stops with the chairman.