That is categorically not what Mr Edwards has said. He stated that the reason he told the lawyers not to proceed was simply because the IAAF rule was being changed.
Before that he was supposedly ready to take court action, which indicates that the money was there.
In addition he actually did take a case to the High Court in 97, but chose to try to lower the penalty to two years rather than arguing his innocence with a supposedly water tight case.
He won’t answer as to when his supporters came up with the case against the 94 ban but he had made it clear it was before he became aware of the likely IAAF decision. The money was there for a high court case and it was used to argue that a guilty man should only be banned for 2 years not to argue his innocence.