It’s both a risk for the buyer, AND the seller so it’s a very difficult one to value. On the face of it it certainly does currently look like a failing business model, but what if it turns around in 2027?
People will scoff at that suggestion and with good reason, but we know plans are being put in place to make sure next winter, isn’t like this one.
People keep saying machinery, starting gates, and air fences are the assets. But it’s the supporters who are the assets.
A well supported club will always be worth more financially, than a poorly supported club for obvious reasons. Ipswich would be one of the plum pick ups because of the loyal core fan base.
The difficulty is the valuation and trying to predict how much of an effect the negativity of a dwindling top flight, plus the loss of Doyle and Emil, will have on attendances.
It’ll definitely have an effect for certain, but to what degree remains to be seen and that’s why it’s difficult to value.
If Louis sells too low and the sport sorts itself out even marginally, and the crowds return, then he could end up losing out.
If the buyer buys too high and the downward spiral continues and the crowds dwindle further, then they’ve made a poor investment.
It ain’t easy.