I got no problem with them starting a new club and beginning at the bottom of the pyramid, but no way should they take over another club or get automatic entry into the league.
They shouldn't even be allowed to start a new club. The solution is really simple. Put a maximum limit on the number of players any club can have signed up. A club like Utd would then have to pick the very best and the rest trickle down the league and play more games. Stop big clubs hording players or the football league will be destroyed essentially. Its only a matter of time at the moment until League 1/2 become regional leagues in my opinion