Sheffield Wednesday chairman Dejphon Chansiri has claimed manager Darren Moore left the club after asking for a new contract four times bigger than his existing one.
Moore surprisingly departed the Owls earlier this month having guided the club to League One promotion via the play-offs.
Speculation, which Chansiri has called "damaging", suggested the pair had fallen out over the transfer budget for the forthcoming Championship campaign, but the Thai businessman has now broken his silence, having agreed to initially keep quiet on Moore's behalf.
Moore is understood not to want to engage in a back-and-forth public debate over his exit out of respect for the Hillsborough club and his position remains the same in the wake of Chansiri's comments on Thursday.
In a statement on the club's official website, Chansiri said: "After the end of the season, we had achieved promotion and as far as I was concerned, there was no issue. We completed the retained list on Thursday, 1 June and began discussing the recruitment of new players, the targets identified for the Championship, and I asked Darren to summarise and present.
"We arranged to talk the following week in order to prepare the final information and begin coordinating the process. Darren went on holiday and we spoke again during his holiday. We talked more about the recruitment of players, then Darren mentioned the contracts of his coaching team, which expired at the end of June. I asked Darren to send me his proposals for them because I was happy to talk.
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