I doubt whether they would have done a Leeds to be honest.
How were the debts going to be cleared then? As Leeds did, they would've sold their saleable assets - the players. There were strong rumours of John Terry coming to Anfield during that season iirc for one. I mean, people like Winston Bogarde were still on the payroll.
It doesn't matter now but Chelsea got out of the **** big time. That's where some of the bitterness towards your club comes from - incompetent at board room and management level, ffuk up the club and get bailed out by some dodgy russian who actually looked to buy Spurs first but only went to Chelsea after he wasn't prepared to wait for an answer. Suppose that's someone else Spurs 'nearly' had