Wolves’ former owner Sir Jack Hayward today told how he had been “demonised” by his children and grandchildren in a bitter family feud.

The 87-year-old described court papers lodged by his family in the battle over £100 million of his personal fortune as “vicious, vindictive and full of hatred”. “They accuse me of being a bully,” he said today. “They say I am losing my marbles. It is incredible and very distressing.”

His daughter Susan Heath, 62; elder son Rick, 59; and six of his grandchildren are suing after being removed as beneficiaries from trusts set up by him.

The two children claim he illegally cut them out of the funds after a fall-out over his decision to sell Wolves for £10 in 2007 on the understanding new owner Steve Morgan invested £30 million in the club.

Sir Jack said: “When you read the affidavits you think ‘Who is this demon they are writing about?’

“What the hell have I done other than give them money and property? They all got their houses and chunks of money.

“Sue and Rick got three or four million on my 70th birthday. What more do they want?”

Wolves life president Sir Jack said his children claimed he was “going gaga”.

“They very kindly want to protect me and dole out so much money a month for my expenses,” he went on.

“They want to take control of my companies and give me an allowance to pay for my lavish lifestyle, which amounts to a cottage in the Bahamas. I am 87 and so surely I am entitled to a world cruise once a year?

This is my money and I should be allowed to spend it as I wish.”

Officials said none of the members of the family involved in the case against Sir Jack wished to comment.

The case is set to go to court in Nassau in the Bahamas on May 2 and is expected to last up to 10 days.

Mr Hayward’s youngest son Jonathan, 54, resigned as chairman of Wolves in 1997 and two years later was sued for £237,000 by his father over financial “irregularities”.

The matter was settled out of court in favour of Sir Jack and Jonathan was removed from the trusts at the centre of the current court action, with which he and his children have no involvement.