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It depends on the attributes of the Chairman (The hidden attributes). You can kind of tell yourself, if you go to the Staff Screen, click on the chairman, and look at his status. If he has "Loves the club" - there is very, very (probably no) chance he will ever sell the club. this can change to other things. 1 being about actively looking to leave.

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Well after a bit of experimenting it can happen different at any point in the process. Playing an old save from my LFC game where Purlow took over, I went back to the point where it said it was going well, twice it went through like the original save, once it went on the rocks then went through about a week later, and twice it collapsed completely. Interesting.

TBH I was tempted to play through on of the collapses as his takeover didn't help the team at all.

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