Would be an implosion of Leeds proportions that.
No CL
Massive wage bill
Main stars hitting their 30's with little resale value, esp with Covid
A few big players with 2 years left on their deals (can they afford wage increases with no CL and losses? Will players sign with no CL?)
Will players demand to leave? Esp Salah, Mane, Fabinho, Van Dijk?
No money to invest in new players.
About £50m still owed for Jota/Thiago
To add to it, Klopp's probably gone too, Gerrard will be coming in to a completely new project focused on youth I bet