If you can find a template of another team in the exact same situation, on and off the pitch, that reinvented themselves by getting in some new up and coming gaffer...then let me know.
Our situation is the same as Portsmouth, QPR, Leeds, Coventry, Derby.
The only two clubs I can think of in similar situation were Villa and Sheff United who got in Dean Smith and Chris Wilder. And Villa got taken over to get them out of the mire.
For it to success you're talking a revamp. From owner, board, staff, management, and players.
That isn't going to happen any time soon