The Celtic Tiger-era League of Ireland is often held up as a model for financial insanity in the football industry.
This was a league where wages had no relevance to income or gate receipts, where clubs went bust just after winning the league, where the treasurer of one title-chasing club hoped the team could win all games 3-1, just so they wouldn't have to pay the goalkeeper a massive clean sheet bonus which they could not afford.
Recklessness is not an exclusively Irish trait, of course, and while so much focus in a Covid-19 world is on the Premier League and how that can be finished, England's second tier is coming under more scrutiny, with eyes also on the lower divisions.
Because the Championship is utter insanity, a league where in 2019 one club (Reading) spent an eye-watering 226 per cent of their income on player wages; where Aston Villa were not actually in the Premier League but were paying Premier League wages (the average weekly wage for players at Villa as they won promotion was £44,150); where the average weekly wage at a very average club (Sheffield Wednesday) was £19,000; where the total losses for clubs in the Championship that season was £650million.
Sunderland's accounts over a decade, collected by Maguire, show a loss of £442,000 a week. And no, that's not a misprint, a football club who have burned their way through £230million.
Those clubs were over-spending even when they had regular income from gate receipts, TV deals, and match-day income.
Some managed to have record losses even with increased income, like Nottingham Forest, who had improved gate receipts and TV revenue... and still managed to lose £35m.
Now, those clubs have no income, no guarantee of when they can play football again as it’s been made clear that the Premier League and Champions League will get priority when things do restart. And there is financial pain.
Players' union, the PFA, and their boss Gordon Taylor have said they remain in talks with EFL (English Football League) clubs over a deferral of wages in this time of crisis.
The PFA had hoped for a uniform approach to the wages issue, an all-for-one, one-for-all deal true to the idea of a trade union but that's not possible and separate deals are inevitable. And players will suffer.
To date, two clubs (Birmingham City and Leeds United) have asked players to accept a wage deferral but more will do so.
Professional players at all levels are unhappy at having their income singled out and turned into public comment, by politicians and pundits, MPs who oversaw persistent cuts to the NHS all of a sudden commenting on Kyle Walker’s salary.
It's only fair to ask, does Daniel Levy deserve a £7m (€8m) annual income for sitting behind a desk at Tottenham?
It's only right to ponder if the club officials who were at the helm of basket cases like Sunderland should shoulder more blame than players who did nothing more than accept contracts they were offered?
The Premier League is in another world from the Championship and lower leagues, which is why the top-flight clubs have opted to keep paying their players. For now.
But the Championship and lower leagues could be a real casualty of the Covid-19 crisis, fears that some clubs may not survive.
Football behind closed doors will work on pay-per-view for Manchester City and Arsenal, less so for Rotherham United and Gillingham.
And when football does resume, it's likely that the Rotherham model, where three grand a week is a wage they can afford to pay and is seen as a salary which players can live a decent life on, will no longer be looked down on.
As the world adjusts to a new normal, the idea of Stoke City paying a footballer £26,000 a week will no longer be seen as normal.