It is illegal for a company to trade whilst insolvent. Directors have responsibilities. If the Court award Mike Ashley as much as has been rumoured then the season ticket money collected will clearly be insufficient to see out the season. £110,000 per week on Defoe and Davis is 1,100,000 pounds every 10 weeks. Just let that sink in. 20 weeks wages for those two players is a staggering 2,200,000.
The only way to remain solvent is to raise funds by selling off players if possible. Therein lies the huge problem. Not one player has any appreciable value. The company will become insolvent in months. Costs are outstripping revenue. Liquidation looms.