North Queensland Fury chairman Don Matheson has dismissed claims he is set to walk out on the club.

Matheson says recent comments he has made to the media about not wanting sole ownership of the franchise have been misconstrued and he is not about to up and go from the Townsville-based Fury.

"I don't think there is anything further from the truth," he said.

"What I've said is that this team should be community owned or a broad-based ownership group be put in place, and in fairness when I came on I was to be one of a few that owned this team and by circumstances I have ended up in the position as sole owner."

Reports suggest that Matheson is losing upwards of $40,000 a week and that he was going to pull his investment but he has confirmed he will remain involved with the Fury in their second season.

"The biggest issue is to keep the side here for next year, because I believe if we get through next year we will be here forever," he added.

"It's a big challenge and I think the side has definitely the capabilities of becoming a profitable organisation in time but in that we need to be able to see out the tough start-up years."