This is a difficult one to answer. Personally, I agree. Let's cut him loose and prepare for the future and never mention him again.

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But if your are losing out on some money again, I think it ends at some point.
I'll try to line up some things to give you an idea what is going on here:
- With the media attention the club, players and there supporters have had in the last 10 months, I don't think it makes any difference anymore if they get some more by going to FIFA.
- Right now there are no people left at the club who were (presumably) involved with the matchfixing. So to say that the worst crime was committed by the club and he can not play for such a club anymore, well... Then you blame all the people in the club who have nothing to do with it and who were helping, training and supporting you throughout the time you were there. And I can name some other teams (in Belgium, Europe, the world) that have problems with a board or owners that don't know much about ethics. Not even mentioning all those player managers who really are responible for lot's of player - club problems.
- Throughout last season there was one team in the second tier who were also fighting for promotion and who were constantly trying to destabilize players, staff from Mechelen and were trying to get into the supporter's heads by constantly leaking lies in the media and feeding public opinions and so on. It had te opposite effect. The team became so tight together that they won the Championship and the Belgian Cup. One of those strongholds was Michael. So this opponent team is pretty much hated by everyone involved with Mechelen.
- This team has 2 owners that each own 50% of the club. One of them is a Belgian building promotor (who took partial ownership not because he supports the team, but he wants to build a new stadium with his company when they reach the 1st tier, he has time until 2022 to accomplish this). The other 50% is owned by some Saudi prince... (Guess who...)
So, the rumour goes that all of this has been arranged by some people who are involved with both Sheffield Utd and that other Belgian second tier team and Michael's manager.
In short: Michael is a very good goalkeeper that has the potential to become great, if he get's enough playtime. But in this I think he's been used as a pawn in some dirty game.
It's difficult to explain to people who haven't been following Belgian football last year. And even for Belgians it's difficult to understand because a lot of lies were told in the press, and a lot of essential things have not been brought out into defence of the club because there is still an ongoing investigation.