And Carragher, who played for Liverpool under the controversial ownership of American businessmen George Gillett and Tom Hicks, says there are similarities with Newcastle's current plight.
Jamie Carragher: “Some people may say you’re not helping the situation [by boycotting] – I can understand that argument – but it’s getting to the stage now where football is so big,” he told Sky Sports.
“There’s that much money coming into the game with the new TV deal, and I’m sick of owners coming in, who are successful businesspeople wherever they’ve been, and they think ‘where else can I make money, oh I’ll buy a football club’.
“I had it at Liverpool with George Gillett, Tom Hicks, and I think it’s the same at Newcastle. It’s the same further down – look at Blackpool, owners taking money out of a club.
“People will tell the supporters they’ve got to come back, support the club, they’re not helping. But what are the owners doing for the supporters?
“I’m not wanting some owner to come in and do something stupid, spending all kinds of stupid money and putting the club at risk, but they’ve got all kinds of money sitting in the bank.”
Hicks and Gillett bought Liverpool in 2007 for £220million but failed to adequately invest in the squad or infrastructure.
That is one of the reasons Liverpool are a pale shadow of the power they used to be.
As for Newcastle ... well I'm sure you know the story.