Nail on head.
I think the reality is we've spent sweet feck all!
Throw in the the bits and pieces from add ons for previous sales etc and I reckon we are in the black by about £5million so the reality is we will be running £10million favourable to budget plus huge savings on wages, getting on for £5million including employers' NI.
We are not investing.
Sadly, there are far too many gullible and naive in our fan base and they swallow, IMO, the substantially over-hyped transfer fees and subsequent bullsh1t from Ewood and LT hook, line and sinker.