To me at least it's quite simple.
I'll give an analogy.
I have a couple of houses, I've run into some unexpected fiancial difficulties that means I am struggling to pay their mortgages..
I can either borrow some money to continue to pay the mortgage whilst I arrange sale of my assests then pay off the remainder of my outstanding debt and have a bit left over.
Or I can choose not borrow speculatively to protect my expensive assets and lose them for a pittance.
If you translate that to football. We have multimillion pound assets on the cusp of leaving for a pittance. You just need to speculatively borrow the money, offer them what they want, then if you can't afford that within your budget sell them for a premium. Surely that makes better business sense than losing them for nothing....
The fact we have so many assests running down is a major cause of concern...