Don't think it would be good for the club, obviously, but not a disaster. Sometimes you have to take a step back to move forward. Wigan & Blackburn seem to be doing ok...
Funny. I see it the exact opposite. When we were potless, if we had been relegated I would have worried that we might be like Swindon and Oldham and still trying to get back up 25 years later, and for a large percentage of the supporters in midlife they may never see us in the championship again in their lifetime. Now that we have cash behind us I would see it as a set back but not terminal. Last time we released everybody and had no team with 3 weeks to go before the season started. We would go down this time with a bunch of players with 2 years on their contracts who would seem to be a decent bunch for L1 standards, a management team we believe in, a quality coaching setup and a bunch of owners who would surely do whats needed on the squad front to give us a box seat chance of returning stronger. Otherwise their investment was for nothing.
If it were to happen I'd have to say this would be disasterous. But I do think we will just escape the drop. A couple of wins should see us through. It will happen.