The circling of the drain, took another loop closer last night.
The FA cup would have been a chance for European football next season.
They are now down to having to win the Europa - which is probably the easier option + CL rather than EL.
But losing to Fulham is quite a few more millions knocked off their revenue.
If Real sociadad (or anyone through to the final), knock them out, that’s a load more millions of revenue gone, and the knock-on effect of no European football next year, with its many millions of revenue gone…
Plus the chances of them getting back into Europe the year after, look decidedly slim, even if it’s over a year off… and that knocks out even more revenue from sponsorship- 2 years out of Europe in a row is a 10% reduction in just their kit deal apparently.
It won’t be this year they get relegated, it’s probably not next year either, but the drain hole is getting ever closer and with quickening speed, and as they spin ever faster around it, it gets ever harder and potentially impossible to swim away from inevitably.
there is no way back, without a takeover, and which investor, is going to buy an overvalued, low level of return, plummeting value, vastly indebted, crap assets company…
No one.