If we get relegated, expect creditors to accept haircuts because it will beat administration. Rights and Media would be better off taking a lump sum that's larger than a first-year parachute payment, as an example. A club with a points deduction in danger of going down to League One is worth less than a Championship club, so working something out at the bargaining table before administration with a buyer is smart for everyone concerned.
The problem child would be 777, who probably can't afford to take one, but their standing at the back of the line won't give them much leverage. Someone would have to pay them more than they're likely to receive in administration, but no more, to secure their acquiescence.
End of the day, a prospective shotgun wedding still leaves a buyer with a club that has a shiny new stadium, minimal debt and the ability to spend to rebuild the roster. This is better than letting Moshiri loot the club while selling it to heavily indebted owners. We don't want administration, but being on the verge leads to a better outcome for the club and its fans than a sale to 777.
Part of me thinks 777 don’t care if we get relegated mate, apparently it reduces what they pay Moshiri, while it takes the PL fit and proper person condititioned out of play, it’s a way for the, to get their feet under the table and still raise capital on our profile.