It's ironic, and incredible, that football clubs going bust only became a regular occurrence once huge amounts of money started pouring into the game. Prior to the 1990's, clubs generally lived within their means.
The movement in money since then is basically:
Fans - worse off, paying more at the gate
Armchair fans - worse off, through paying TV subscriptions
Investors/club owners - worse off, having pumped much of their fortunes down the drain in pursuit of glory
Clubs - worse off, most are in debt and run at a loss
Players - here's where all the money's gone!
Agents - don't get me started. At least the players have talent.