uncle Uzzy is waving at you
I think he's partially right. I don't think Sky will withhold all the funds (and it's not even a case of that, they would have to win back monies that have been paid out, which is very difficult). That being said the discussion here is soon going to be, we either finish this season, or finish next season. I don't think you can do both. Cancelling next season, and clubs go bust, there's no doubt about that.
I did a quick cursory scan, of what a 25% hit on TV money and a 25-40% hit on sponsorship and 20% hit on gates does to clubs and it's not pretty. Nobody makes a profit. A lot of clubs are already at a point where wages are higher than turnover. I think those numbers above are actually quite cautious and in many ways a best case scenario.
I struggle to see how football operates in the same way. I think e are talking about whether we have recession and serious deflation on the one hand, against an out an out rout on the other.
The other angle to consider for this, is America are getting hammered. Hedge funds in particular taking a pounding. Those who own shares on sports company's are going to see them greatly reduced, and may even get to a point of negative equity quite quickly. It's not infeasible a Glazer or an FSG went bust, and if they do, you have a Leeds United situation on your hands. Creditors from outside of sports, who are desperate will start fireselling assets to gain owed money back.
Within this context, if you are a multi-billionaire, perhaps with a diverse portfolio, with assets around the globe, including places such as Russia (who have not been as hit) you are in a strategically very strong position as your pound in the pocket is going to go a lot lot further than 3 months ago. If you are willing to sustain even quite moderate investment, there are huge benefits that follow suit.
I remember remarking in many ways Moshiri arrived perhaps 5 years too late. I suspect spending will go as low as it was in 2008 (about £850m) this summer. We are back to to levels of spending about 5-10 years ago, where such an investment would go a lot further.