It doesn't need to generate additional income over that already predicted. The rebrand at this stage will cost money, not generate it. Income from a rebrand would be future income. If the shortfall wasn't budgeted for, now's the wrong time totally for a rebrand.
He is saying predicted income will leave a shortfall of £11M. I assume he has access to the balance sheet to confirm this. So my question still stands... What is your idea for generating the shortfall?
If that's your genuine view I pity you.