The resignation appears to co-incide with the refinancing of the club, so I suspect it's going to be a very interesting few days as we find out why he's gone.
He (and Rick Parry) prevented the entirety of the loan from being placed on the club, so with both of them now gone, that means the refinancing could see a shift in the debt so that the club is at considerably more risk of administration and player sales than it was.
This is not a good step.
It will be interesting to see whether he went on point of principle, or whether he was pushed.
The first interview is going to make interesting reading, either way. I wonder if we'll get an admission that he sold to the wrong people?
We live in interesting times.