Wood: My Ex-Manager Made Me Bankrupt
ROLLING STONES guitarist RON WOOD is furious he lost more than $15 million (GBP8 million) and was forced to declare his health spa/restaurant bankrupt because his ex-manager "didn't read the contract's small print".
The rock veteran and his wife JO WOOD fronted London's exclusive HARRINGTON CLUB - to compensate for Wood's lack of financial rewards from band THE FACES - but lost all their money after his former manager allowed the club's boss to "drain (Wood) of everything (he) had".
Wood complains, "I've only just got my head above water after the Harrington Club bulls***. I lost everything investing in what I thought was a harmless thing to do. I didn't know the bloke who was running it was using my ex-manager as a complete a**hole and using all my money and consequently draining me of everything I had.
"All my money had gone. It was pure oversight on my part because I put all my faith in my ex-manager, thinking that he had read the small print. If he said sign this I would sign it.
"What happened was suddenly one day he said to me, 'I f***ed up,' and I said, 'What do you mean? I lost eight million! A sorry would come in handy.' I've only just got my head above water recently after the FORTY LICKS tour."12/07/2004 21:00