Due to their global brand recognition I think that would take a few more seasons outside the top 10.
Soccer (football) shirt sales worldwide in 2021, by club (in units)
Characteristic Number of shirts sold
Manchester United 1,950,000
Juventus 1,420,000
Barcelona 1,340,000
Chelsea 1,310,000
They sell almost 2 million shirts globally. Adidas won't want to lose those sales by downgrading their status.
However, in 5 - 10 yrs time when the glory hunters have switch allegiances as they always do, those numbers will drop off and they'll start to lose their elite status.
The tiered sponsorship deals is where they will really be hurt.
FA sponsor's contract has tiers. For example. Prem only, Europa, Champions League.
Depending on the competition determines the annual amount of sponsorship.
A club like the filth won't have a Championship clause as it's thought that that would never happen to those arrogant scumbags. It should have this season but for the 3 nae hopers.
However, finishing 17th will mean they earn around £30m less from Prem money than the board will have forecast last summer. Great.
But also, no UCL or any kind of Europe will see them lose easily as much again if not closer to £50-60m in additional UCL Tier Global Sponsorship deals.
Brands want to be associated with winners and the expect to have their brand's Exposure right there on screen when the Real Madrid Manager is being interviewed or the players are lined up pre-match for the photo. etc
A match away at Carrow Road or St Mary's doesn't motivate Microsoft or Chevy but a visit to the Camp Nou or San Siro does.
With the business model they operate a consistent sustained period of 5+ yrs outside the to 8 could spell disaster for them.
Sadly what it would mean is a weakening in share price & the Glazers/leather scrote wanting to dump the asset.
If they've saddled the club with another £2b of debt taking the total debt to £3.1 - 3.2 Billion, Ratsack will want his £1.7B back + profit meaning that any owner will have to come up with at least £5B just to cover the outstanding.
With the Glazers presumably wanting to make huge profit, as the club is a cash cow and basically collateral for any and all other projects, they are going to want a sizable buy out fee.
That would mean £7-8 Billion.
The club squad value is 699.25m - £588.31m
The stadium, training ground and other physical assets are probably valued around the same. A total of £1.3B being generous.
The Brand logo, IP etc is worth probably another £1 - 1.5B
The true value of the filth is around £2.8 - 3.2B - £3.5B at most.
That value is only going to dwindle as they continue to fail.
Boo hoo hahaha