The 77-year-old has returned to his Caribbean home after leaving a chilling farewell message to the Molineux mob who broke his heart of old gold.

He said: 'In view of recent events I've had enough. I'm going back to the Bahamas - and I may be some time.'

Friends say he was deeply hurt by abuse hurled at him by hundreds of fans after Saturday's 3-1 home defeat by Crystal Palace.

Rachael Hayhoe-Flint, Sir Jack's personal assistant, friend of 30 years and a member of the Wolves board, said: 'The mob tore out his heart. He was aghast over their attitude towards him.

'He is 77, he under-went a heart by-pass a couple of years ago and he doesn't need this sort of thing. Molineux is the house that Sir Jack built and he didn't do it for personal glory but because he loves the club, Wolverhampton and the people.

'It would be unthinkable if he was to cease his involvement with Wolves but who knows what might happen?'

Although Sir Jack's comments sounded like a terse valedictory address, sources close to him insisted he was merely taking a break to recharge his batteries after another season of broken promotion dreams following the club's disappointing start in Division One.

But there is no doubt the white-haired septuagenarian, who has ploughed £45million into the reconstruction of Molineux, the signing of players and guaranteeing the club's debts of around £26m, is nearing the end of his tether.

He said of Saturday's demonstration: 'There was a lot of effing and blinding and they would just not see reason.'

It is not so much the money that irks Hayward as the fans' ingratitude and short memories. His benevolence has transformed a decrepit, partially condemned, stadium into one of the most impressive around.

But Graham Turner, Graham Taylor, Mark McGhee and now Colin Lee have failed to deliver Premiership football and two seasons ago Sir Jack insisted that any future transfers would have to be financed by the club itself.

The 'golden tit', as he called himself, was to be no more. Since then Wolves have made £11m by selling Robbie Keane to Coventry and Ade Akinbiyi to Leicester but the income has not bolstered their own squad significantly.

Now Wolves are in the wrong half of the table, the debts are mounting and unrest among fans is growing - not against manager Lee but the board for failing to give him financial backing.

Their mood was not improved when former goalscoring hero John Richards was removed as chief executive and replaced by Jez Moxey, who is regarded by fans as a penny-pincher. He said last night: 'Although I was surprised at the attitude towards Sir Jack, who was close to tears, I could under-stand supporters' frustration over the club's position in the table.

'I accept that I am going to come in for criticism when things do not go well. But we have to close ranks, pull together and get the fans on our side.

'The manager has the support of the board and we will help him bring in players if it is possible but there is not an endless pot of money

to give him and that is a message people do not like.

'There are people who say the only way out of our current position is to spend more money. But while money is important, it is not the only ingredient. I have seen problems created at clubs by money being thrown about.'