Sadly, I have some experience in this area, being a Wolverhampton supporter. And actually you wouldn't get any pushback on that in 95% of the scenarios, so long as you didn't malign the supporters or their communities. Those sides are where they are on merit alone, and there are a lot of traditional clubs with histories of first tier success (including Wolves, Villa, Forest, Derby County and many others) who are languishing now in the Championship (with a few like Bolton, Coventry and Sheffield United even residing in the 3rd tier), and the supporters know it. They themselves would probably refer to their club's underachieving players and/or manager with a word that rhymes with anchor.
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So, as I was making my decision to follow Man U (during a consulting gig in London in the mid-90's, I guess it was, now that I think about it), a buddy of mine was hitching his wagon to Leeds. Needless to say, it's been a relatively bouncy ride twixt the Premiership, Championship, L1 and back up. Not was he was hoping for. Would only wish that upon the biggest of *ankers.