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Sounds to me like someone who has been around football for at least five minutes. Seriously, contracts in football are virtually worthless, we all know that.

If I felt I had done nothing wrong, that either I didn't do what I was accused of, or no right thinking person would consider what I did gross misconduct and my employers came to me with the choice "take a fraction of what we owe you, or we'll fire you and put the black mark of gross misconduct...

There was also a story in the argus a few days later saying no offer had been made. http://www.theargus.co.uk/sport/10487290.D_Day_looms_for_Poyet/ Sat 15th - "The Argus understands The Uruguayan has already rejected one financial offer to settle the dispute and sever his ties with the club...