Mohamed Al Fayed has claimed Fulham would not have been relegated from the Premier League if Shahid Khan, his successor as the club's owner, had not removed the sculpture of Michael Jackson from outside Craven Cottage.

"This statue was a charm and we removed the luck from the club and now we have to pay the price," Fayed said. "When [Khan] asked me to move it I said: 'You must be crazy.' This is such a fantastic statue which the fans are crying out for. But now he has paid the price because the club has been relegated. He called me because he told me he wanted Michael to return. I told him, no way."

Fayed was speaking as he presented the 7ft 6in statue of the late singer to the National Football Museum in Manchester. The much-mocked statue was commissioned by Fayed and installed at the back of the Hammersmith Stand in 2011 but was taken down last September.

Fayed was a friend of Jackson and the singer paid a visit to Craven Cottage when he attended a match between Fulham and Wigan in 1999. But after Fayed's decision to sell the club to Khan, he was told it was surplus to requirements and would have to be removed.

Speaking about its presentation to the museum, Fayed said: "Michael is a fantastic example for everyone. He came from nowhere and showed fantastic determination to be a superstar and I am very glad that he is now in this great institution for people to enjoy."

Fayed's comments came on the day Fulham's manager, Felix Magath, apologised to the fans in an open letter for the club's relegation. Reflecting on the 4-1 defeat at Stoke that confirmed their fate, he wrote on the club's website: "We as a team, and I include myself and management, would like to apologise for our bad performance on Saturday. It certainly was not what you as fans were expecting and should rightfully demand of us."