The following quotes from Jones were re-published in the Express and Star paper in the Midlands and Wolves are not happy and they are said to be checking with Lawyers if the comments breach the confidentiality agreement for Jones' six figure pay off.
"I don't want to talk about Wolves because they're not worth talking about. I fulfilled their expectations, I gave them promotion but they didn't live up to mine."
On the promotion budget controversy - Jones claims he was promised £25m but only received £3m - he says: "You would have to ask them why it happened.
"I'm quite an easy person to get on with but I don't suffer fools and I locked horns with Sir Jack.
"What was he like? When I had done a deal to get Paul Merson, he would not let me sign him because he had never heard of him.
"Wolves were like a time warp. Billy Wright and Steve Bull had been fantastic servants in their time but they couldn't help me. In fact they hindered me because of the constant comparisons."
In reply Wolves Chief Executive Jed Moxey announced on their official website
"We are disappointed and surprised that Dave Jones would choose to make disparaging comments regarding Sir Jack - they are unjustified.
"We will consider how best to address this and the article's unfair criticism and inaccuracies. However, we will not get involved in a public slanging match with a former manager, especially at a time when all of the club's efforts need to be focused on making the most of the transfer window.
"The past should be left alone and we will not be making any further comment about this issue. What's important to us is concentrating on team matters and doing whatever we can to achieve our football objectives."
While the comments from Moxey say they will not comment further the Express and Star claim the transcripts have been passed to Wolves' lawyers.