Only a fool would see a football club as a pure investment play full stop.
It's horses for courses in the football club buying world. Someone wanting to buy us is not going to be interested in doing a regional phoenix from the flames rescue job.
We are a mature club, with so much already in place, financially killing it (in football terms) ...so really just someone that wants to ice the cake.
Spinning a feel-good story would also be far from the main priority. It would be a secondary goal, but not the primary one.
For a £3 Bn transaction, any prospective owners will care about different things. First and foremost, the club is within easy reach of the City, Whitehall and Parliament. Easy to wine and dine financiers, bureaucrats and politicians, especially at the first-class facilities at the new ground. The media attention would also be welcome, and finally, the real estate possibilities in one of the most expensive markets in the world per square foot.
We'd be bought by someone either looking to use us as a geopolitical tool to secure UK patronage for their kingdom/state, or as an entry into the UK's real estate market.
However, the reason why that would still be better for the club than the current detestable deadweights, is that you can only sell a premium product if it has the pedigree to match. The grandeur of owning one of Britain's largest clubs with some of the best facilities, would rely heavily on there also being on-pitch success to impress the UK's various power-brokers.
Slumming it around the relegation spots (or even in the Championship, should current trends continue) with a mediocre, dirt-cheap chancer in charge of a dirt-cheap (wages-wise) squad of teenagers will not give any new owners what they likely would want. Hence, it's reasonable to expect any new owners to bring investment, and ambition - and an end to the 25-year purgatory we've been in.