Wolves' former owner Sir Jack Hayward is being sued by two of his children in a bitter feud inflamed by his £10 sale of the football club, it was revealed today.
Daughter Susan Heath, aged 61, and his 58-year-old elder son Rick claim he illegally removed them and other members of his family from trust funds worth millions of pounds.
Lawyers for the siblings say Sir Jack acted "irrationally" in "frittering away" the family inheritance, allegations he strongly denies.
The 87-year-old has told friends he has been accused of "losing his marbles" by the children and grandchildren involved in the dispute.
Sir Jack, who spent up to £70m in 17 years at Molineux, sold the club for a nominal £10 on the understanding that new owner Steve Morgan invest £30m in it.
A colleague of Sir Jack, Wolves life president with a £160m fortune, said today: "There had been earlier fall outs, but the sale of Wolves in 2007 exacerbated the situation.
"It was owned by one of the family trusts he set up. All the members of his family who were beneficiaries of the trust agreed to its sale for £10 and signed away their rights, but some later became increasingly unhappy about the deal.
"That contributed to a further deterioration in relations between Sir Jack and members of his family who were later removed from other trusts set up by him.
"He says he has the right to say who is a trustee. They insist that he acted illegally."
Rodney Heath, husband of Sir Jack's daughter Susan, insisted there were "two sides to every story" last night.
The case is due in the High Court in Nassau in the Bahamas next Wednesday.
Read more in Tuesday's Express & Star.