[Bagger Vance]

Its easy to pick up on a small minority of failures to prove a point.

There are two ways of looking at everything

E.g.
Fan ownership doesn't work - look at Stockport and York
Fan ownership works - look at Portsmouth and Wimbledon

What differentiates the above - poor executive decision making, financial imprudence, flexibility and dynamism of approach. It doesn't matter the model, whether its fan or private the difference between success or failure of both is executive decision making.

Get the strategy right, get the structure right, get the people right, get the funding model right and execute well and both will work, get it wrong and both can and will fail.