don't disagree generally but it's hardly affected the market value or attraction of man utd as something to own, quite the reverse in fact. that's not really basic economics!!
i just think its scaremongering. if man utd plc got into trouble (trying to think of a likely example)......then someone else would buy the club, let's say for 1 billion. the glazer's get their money to pay off their loans and that's that. where's the disaster??
Not the case. If you want to buy a company thats going down the tubes you just wait untill its share price bottoms out or let it go into receivership and then buy it off the creditors.
If Fergeson was to leave the Club, thats a large asset to loose. If his replacement couldnt win games.....and if ..........
Man City became the number 1 club in Manchester........
that would make things interesting
But as you say al hypothetical and unlikely to happen..