Honestly, we're not that 'far' off being a profitable business. Last year pro forma was about a 55mil loss, mainly through loss of sponsorship, this year will be more like 100m I suspect mainly because of no season ticket/matchday revenue.
If we make the cuts I outlined in the Financial thread, we can cut like 80mil a year of costs without TOO much impact into the first team. Clearly some of that will be reinvested into players. We can also further cut the amortisation bill. With a new shirt sponsor, triggering contractual bonuses linked to (hopefully) winning the league, and being able to sell season tickets again, we should be able to recover.