Shepherd made a lot of noise about his proposed take-over of "the club doon the road" from the home he has on the holiday island.
But he simply didn't have the money to make a serious offer.
He failed in his bid to buy the Spanish club and lost out to entrepreneur Paul Davidson, who won the race with a realistic offer well in excess of £50m (according to reports) and now owns a 93% of the club.
Shepherd could only raise £17.5m, which made him quite a laughing stock, after telling 'every man and his dog' the deal was just about done.
But he simply didn't have the money to make a serious offer.
He failed in his bid to buy the Spanish club and lost out to entrepreneur Paul Davidson, who won the race with a realistic offer well in excess of £50m (according to reports) and now owns a 93% of the club.
Shepherd could only raise £17.5m, which made him quite a laughing stock, after telling 'every man and his dog' the deal was just about done.
The offer was at least £10m below Mallorca president Vicente Grande's lowest asking price, and the deal was always going to get towards £50m with a Russian entering the race and making the deal an auction.
Shepherd said that if he had taken control of the club he would have drafted in players from Newcastle United.
Which leaves us wondering if the man has all of his marbles. £35m short of the asking price to take control ... where the hell was he going to find the money to buy players?