The stadium is a separate issue - and frankly, it has the potential to make all this other discussion irrelevant. If £100m+ of debt is going on the club's books to pay for that, then whether we lost £3m or £6m this past season is kind of lost in the noise.
And yes, I would 100% be in favour of a proper salary cap that forces every club to trade within their means. We would have a much smaller budget now (both in real terms, and comparative to our peers) though if we did. We would have to over-perform to get in the promotion race.
But let's be honest with ourselves in the mean time. We've been massively overspending. It's been blatantly obvious to anyone who knows anything about football finance that we've been massively overspending. And noone has been complaining. I saw tons of posts after we signed Goodwin about how we needed one more top striker, because you needed three quality options at this level.
Let me put it another way - we could probably reduce this deficit by £5m in 2024/25 if we a) released Browne, Henry, Murphy, McGuane & Edwards, b) sold Tyler and Cam, and c) replaced them all with bog standard lower league pros. You could argue that it's the financially prudent thing to do whilst we wait for the stadium to get the go ahead. Wanna speculate on what the reaction would be around these parts if we did that!?!