Hear me out here TRO.
Of course it would begin as a catastrophe. They wouldn't know who to pick, there'd be fights, failures and all that shite. They'd be an unprofessional rabble, but then they are already.
My cunning wheeze, though, is to say to the players 'we're not going to sell anyone for the next five years. You leave when your contract ends, no sooner'. So if they wanted to salvage anything from their careers, they'd need to start trying. Sooner or later, they'd have to co-operate and work together. A leader, who actually gave a shit, even if just to ensure that his career didn't die, would emerge from the bunch.
I'm operating here on the 'spiderman principle' - they need power before they will take responsibility. And there'd be no shirking that responsibility - the club would say no coaches or directors would be sacked, whatever happened on the pitch. All on the players' heads.
I love this idea, and I'm going to begin a one-man campaign for it.