How Wolves plunged to the lower leagues and nearly ceased to exist - Part 14: Bitter battle for future of Wolves turns nasty
In more detail than ever before, the Express & Star tells the full Bhatti brothers story – a troubled era which saw Wolves plunge to depths of the lower leagues and face financial oblivion. In Part 14, the Bhattis break cover – then threaten our reporter as crisis deepens.
Immediately after a judge had ordered Wolves' closure, the Bhattis did something without precedent – they gave an interview to the Press.
Speaking from Allied Properties' office in Piccadilly, Mohammad Bhatti said he would be appealing against the judge's ruling, and insisted the debts would be paid in full.
"The Official Receivers will have the documents of the appeal within 48 hours," he told the Express & Star.
"As the court was told, the money is due to come in 14 days from today, and the moneys will definitely be arriving."
Bhatti suggested the Official Receiver should 'hold fire' until the court had ruled on the appeal. He said everything would be frozen for a period of three weeks, and then all the debts would be cleared.
Two days later, his wish was granted. The Court of Appeal granted the Bhattis a 10-day reprieve.
Club solicitor Mr Michael Cooksey said Mahmud Bhatti, head of Allied Properties, was determined to meet the new deadline.
"If the funds in America continue to be delayed, then we will use an alternative source of cash," he said.
Councillor John Bird, leader of Wolverhampton Council and a lifelong supporter of the club was not impressed. He told the Bhattis to relinquish control.
"Allied and their owners have consistently demonstrated their lack of interest in the future of the club and I can see no sign of changes of attitude," he said.
An investigation by the Express & Star also revealed that Wolves' net assets were valued at just £50,000.
