I think our advantage in this coming storm is it seems;
1) We were not looking to a actively sell (as such assets will have lost value)
2) We were looking to move on assets that are unwanted.
On the latter point, if there is some weakening on the pound and a 30% drop on wages for the season, suddenly players become more attainable (not just in England but in Europe). Sigurdsson pay packet, may go from being say E160k p/w to maybe 90k-100k p/w. It's by no means certain, but there's more potential. If FFP is relaxed we may also be able to do a bit on the fees to clear them off the wage bill.
More broadly if our wages are reduced 30% that gives us a little room.
As for who he signs I do think it's possible to mix a broad strategy of signing younger players but also seeing value in older players. I think of players such as Nigel Martyn, Richard Gough etc who were exceptional for us under more experienced coaches. We even got good service out of Weir, Stubbs, Campbell, Carsley, Gasgoigne etc. In truth without that group of more experienced players, I think the club would have been relegated around the turn of last century.
The key is getting the right personalities in, and also have a manager who has the man management skill, and the tactical flexibility to utilise them. I mean, even if you think of Theo Walcott, he's a different player under Ancelotti as he was under Allardyce. So if he can get players such s Bale, of James singing then they would immediately become our best player. I mean if we got either at 80% of their peak, they'd be the best player we've had since Kanchelskis.