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How to reverse it?
Actually very easy.
Find a gazillionaire to buy the club. Probably £250m should do the trick.
Buy a decent squad. Likely another £250m
Get promoted- very important!
Pay the FFP fine of another £100m
Stay in the PL and recoup the losses in about 4 seasons perhaps.
Simples!!
EDIT. Meant to add, give the FA a Winston on the way!
Don't get me wrong... that's not a criticism of the players. They may have physically busted a gut on their own merits. But I'm just saying that there body language doesn't seem great lately. They don't seem to be working well as a team. They seem a bit lifeless and lacking personality.