I can't accept that mate. It would basically mean that we are back to Kenwright levels of austerity. Sell to Buy!
I believe that the issue has been a lack of value for money. That large sums have been going towards dross that serve no purpose.
I think we can certainly make use of the saved money by putting it towards much better players. I also believe that we have the ability to increase our wage bill beyond that.
Just my read of it mate, the wage bill needs to come down, 160 mill in wages and 188 mill in income, in our last set of accounts. Its 85% of our turnover. I like you wish it was different, yet im just analyzing the headline figures. Ganted they are our last set of accounts and based on the 18/19 season.
If im Everton and the DOF and manager comes to me and says, we need to add more in wages in central midfield and right wing and i see we are paying just short of 400K weekly on central midfielders and well over 5/600k on wingers (Sandro, Bolaise, Walcott, Gylfi, Bernard, Iwobi at a minimum), you wouldn't be doing your job if you didnt question the logic of spending more and taking on more bodies and adding to the wage bill and adding to the excess.
Actually when you look it at it that way, you would be quite mad to keep piling on, without outs.