Carlo talks in his book about the management arc: about how a club courts a manager, the honeymoon, success or stability, and then the decline.
The next few months will be telling. The honeymoon is clearly over. And he faces the rest of the season with a paper-thin squad as he simply hasn't been backed this window. If he finishes about 9th - which is where I think he will - it will be progress of sorts, but I'm not sure it's great for his reputation as a top level coach. The likes of James will be looking around wondering why we feel we can achieve anything with the paucity of options that we now have. Will he hang around?
I think we're limping towards this new stadium now...if it ever actually happens.