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No doubt TF and the board have made horrendous errors, the contracts they dished out were ludicrous and they are paying the price personally. But I am encouraged by the statement and the point he made about no need for further investment if we stay down....
If we do not get into the Premier League next season they they will sell Remy (£16m) and Taarabt (£5m) and will be able to get £25 million + off the wage bill. Some or all of that money can be used to rebuild, younger players with sell on value. I would expect to see a few more signings in the Austin and Phillips mould. There will be lots of frees available and yes, Id expect a few loans too.
Clearly the January signings were short term but to me understandable.