It's pathetic. What is wrong with saying "we will have one of the lowest wage bills until our legacy issues are sorted out. It may mean we get a lower class of player than some teams in the division but we feel that the club is a big one for league one and so will be able to attract players anyway. In a few years if we can build sensibly and only spend what we have and what we can make from transfer dealings, then we may be in a position to push on and go for promotion."
If they had said something like that then I would respect their bid and that they are trying to start afresh. What they came out with was an utter disgrace.