I don’t believe there’s any scenario where Liverpool can fail. Let’s face it, they were up against the wall in 2009 in a court room basically seconds from administration before a good will stitch up saved them. 4 years later they were challenging for the title again. The key difference with a Leeds or a Nottingham Forest is that Liverpool are one of only two clubs in the country that literally has every single entity wanting them to be successful. Top politicians want it, football governing bodies want it, the media exist on it, the legal system looked favourably on them. They’re never going to go under or somehow get in a mess, they did that and a court basically ruled they could be sold at a quarter of their real value and all their debts would be wiped clean. They’re never going to go under. If they hadn’t of been so terribly crap for most of the last 30 years they’d be winning the league almost all the time because they have every advantage in their favour. It’s actually amazing incompetence from them that they haven’t won it yet given every ref, media outlet, governing body, and even some opposition players have done their utmost to make it happen for them.
I know it's easy to think there is a clear conspiracy to never let them fail. I agree there is certainly a structural bias, but I don't think it goes as far as an out and out conspiracy. Indeed the other leading club Manchester United weren't saved from Glazer when that takeover went through. The ruling establishment will have more than enough on their hands to be dealing with than saving football clubs over the forthcoming period.
The 2nd point I'd note, is H & G handled the situation terribly. Up front they didn't put the legal protections in they needed. Secondly they had no idea how to conduct PR and essentially lost the PR battle. I don't know on the former but I'd be very very surprised if FSG allowed the same loopholes as last time. They are astute business people, will have seen the mistakes their predecessors made and will likely have ensured those loopholes were tied (so the debt they've ran up to FSG will be paid). They will also be far more aware what LFC fans are capable of if it goes wrong, and have already shown better PR skills (in a number of ways). They are better prepared and adept at fighting the PR battle.
I don't think it goes the Leeds United way. It only goes the Leeds united way if FSG go bust or get into severe issues owing moneys'. If they start owing wealthy American's money, forget about our establishment, they will bend over to ensure wealthy Americans get paid. It's possible that happens, but it's a small chance.
The more likely scenario I see is a situation similar to United with the Glazers (maybe at a faster speed). The Glazers may start taking money out of United more speedily now too. Essentially taking quite cut throat decisions to protect their entire portfolio by sacrificing a business with some liquidity in the UK (and we know they view their American businesses first). They've also been very ruthless with the Red Sox (their first love) and traded 2 or 3 of their top players this year (essentially got rid of Alisson, Van Dijk and Salah). They are quite prepared to make unpopular short term decisions to benefit the longer term vision of their portfolio (or their club involved).
Look what I can say with almost certainty, is the idea they are signing Mbappe as the idiots with the Mbappe 2020 hashtag nonsense are well out. Even before this crisis your Mel Reddy's were pointing out that they may not even sign Havertz as his price was too high (code for they don't have that money). They've maxed the credit card breaking transfer records. The money they thought they'd get for Coutinho will also be massively down, given he's flopped. I suspect sales are coming, and it will start with Mane.