There are two ways to go as I understand it, take a massive gamble, throw even more money at players and wages to get promoted back to the Premier League, then spend as little as possible and hope to get promoted again after the inevitable relegation. Secondly recognise the reality of the situation we are in and initiate a sound business plan to steadily reduce the debt, enable the club to become economically sustainable and learn the harsh lessons of our past profligacy.
IMO the first option is a fools errand and a massive gamble, plus the club would come under massive pressure to spend once more IF promotion was achieved. I see that the messages coming out of the club regarding where they see themselves have changed, in an effort to manage expectations, this should have been the message from the moment we were relegated.
My view is that the whole structure of the professional game is not sustainable in the long term and that the Premier League and Football League have made a complete pigs ear of managing their competitions. Clubs know what they can expect to receive in revenue from TV, sponsorship, ticket sales etc and they should budget accordingly. The whole thing is run on greed, greedy players, owners, broadcasters and supporters and is utterly reckless, no other business in the world would conduct its financial affairs like football clubs. They have always relied on the benevolence and good will of wealthy business men and community leaders but never to the extent they do now, it beggars belief that there have been so few casualties up to now.