It's not City's board that broke this deal, it was Levy's insistence on getting every pound of flesh. It blew up in his face as City got tired of waiting and a better proposition appeared on the horizon.I suspect Kane was told we won't stand in your way if we don't qualify for the CL, no figure would have been mentioned. Kanes understanding of "won't stand in your way" was a million miles off from Levy's.
In my opinion its City's job to verify if Kane is right through whatever sources they have. They didn't and that is where this mess developed from. I mean what's your first reaction when you hear gentleman's agreement and Daniel Levy? Kane may have been stupid enough to believe it but a club the size of City with the resources available should have known better.
Proverb for Levy: A bird in the hand is worth two in the bush.