We have a very valuable and incredibly talented playing squad, all within the shackles of FFP. That suggests the running of the club isn't too bad.
With regards the total debt, more than half of £72m was run up by the previous regime, and ultimately underwritten by the Allams, not written off. We speculated, we accumulated, and despite relegation we're still in a better position both on the pitch and in the books than we were the day Allam took over.
For instance, when the Allams took over, we had over £40m of debts, a winding up order, an no saleable assets with liabilities we couldn't either afford or rid ourselves of taking that debt total higher by the day.
Now, we have £72m of debt (regardless of who it's owed to), but everything is paid on time, we can afford the assets we have, they also have value to an amount which, if we were to sell them all today, we would almost certainly be well below that original figure of £40m, with plenty of surplus to put together a comparable squad to the one we had in December 2010 and still be well below £40m. On top of which we now have the best facilities the club has ever had.
The Allams are ****ers but you can't try and claim the club was better off without them, it's complete bullshit and just makes you look silly.