I think the reason players are backing Valverde, is maybe because they are afraid something similar to Bale could happen here, in case someone ballsy comes. Someone who may bench underperforming players.
Valverde is a safe bet for them, he will start the veterans irrespective of their form.
And, they are players who have won everything, so money is more relevant now. Because I doubt they would be getting as much money elsewhere.
And the board is backing him, because of the same reason, to keep the players happy. And also because Valverde is their puppet, very easy to control.
There's a reason why folks like Guardiola & Cruyff were thrown out. This is a power game and this board wants nothing less. They care more about themselves, than the club.
We need a complete overhaul, starting from top. Or else we would be united in no time, a money making machine with no success.