I agree cubkilla, this is flawed logic.
Look at the Chicago Blackhawks, for example. This team had some of the most loyal fans in America. Fans kept turning the turnstyles moving and tuned in to WGN when they were still on TV. The old barn was always packed, yet their billionaire owner never spent $$$ on the team. This has been going on for years (and still is going on today). There is a reason players Belfour, Amonte, Roenick, Hull, Chelios, (and the list goes on and on) didn't finish in a Hawks sweater. The place was packed, and $$$ was never spent. Fans started to fall away as ticket prices went up, yet a better roster was never the end result. Now, the f***ing team doesn't sell out a game, (although only gets close when Detroit comes to town).
Granted there are many differences between owners other than this, but it isn't much.