Theoretically it can disappear but practically it can't. The assets and brand are too valuable and the potential to make a profit from them is very high. Yes, the club can fall further down and could get close to administration or liquidation but there would be a queue of people happy to bail it out before it disappears. It could then be purchased for a very low amount and an investor could make a killing. Four and a half years ago Villa came within 24 hours of administration and someone stepped in and picked it up on the cheap. The big old English football clubs will always have a buyer if they look like going to the wall