According to Football Federation Australia (FFA) boss Ben Buckley, North Queensland Fury were given "every opportunity" to secure their future before the axe finally fell on Tuesday.
But Fury boss Rabieh Krayem believed his club was not given enough time, saying it had the potential to "stand alone" in just three months if it had received a stay of execution for 2011-12.
Buckley and A-League boss Lyall Gorman flew to Townsville on Tuesday to deliver the bad news, telling the Fury they were "too big of a financial risk" to sole owners the FFA for next season.
A club that began with so much promise in 2009 boasting English superstar Robbie Fowler is gone after just two seasons.
The verdict came despite the Fury appearing to disagree with the FFA by claiming they had secured half of the club's predicted $3 million shortfall for the 2011-12 season to ensure their future, as requested by the governing body.
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North Queensland axed from A-League
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