This is exactly what happened to Liverpool in the 90's and can see us going the same way. There is only so long you go before the sponsors and players start going. 2 years without champs league just cannot happen.
Obviously in relative terms, but it would be very interesting to know how the bottom lines compare financially between Liverpool in the 90's and Utd now
Obviously the numbers are vastly bigger now, but in % terms (compared to top 4? , not sure what would be fairest comparison) they may not be that different
Maybe there is no "fair" comparison as the sport and the league are in a completely different position compared to back in the 90's
While we were in it for the group , we are not competitive which is really all that counts - so in effect we have been out of it for 4 years.
Obviously the sponsors were happy-ish , I'm sure the club and fans weren't though.