Speaking in the Bournemouth Evening Echo, Bailey is quoted as saying: "I'm extremely unhappy because the money should have been paid to me five years ago but I know I'm unlikely to see any of it now. When the agreement was first struck, I felt like I owed the club something because they did a lot for me. You can call it naivety or stupidity, but I didn't understand the game. The past five or six years have been very stressful and last week's announcement about the administration came as a bombshell for me and everybody connected with the club. In my opinion, the club has been badly run for the past 10 years and the people responsible should be held accountable. I certainly feel very let down by certain individuals".
He went on to be quoted saying: "I had a two-year contract worth £120,000 and could have just sat there and taken my money ...... I was asked to retire because they didn't want to pay my wages for the next two years so I agreed a settlement. As part of it, they said they would give me the proceeds of a friendly against Manchester United. They said they would guarantee me £50,000. In the end, they arranged a benefit game for me against an AFC Bournemouth XI which raised £11,000. They still owed me £39,000 and said I would get it in bits and pieces. I got one cheque for £5,000 and the next one bounced. I asked the PFA for some help and they told the club to pay me what I was owed. I got another £5,000. Then, out of the blue, I received a letter saying they weren't prepared to pay me any more money. They said I'd had it all. I've had £21,500 and am owed another £28,500".