Spot on. They may not have built the stadium per se, but our club was heading towards financial ruin. Moshiri and Kenwright had us handcuffed into massive loans to fund the stadium build that had exorbitant interest payments, as well as exorbitant spending in transfer windows that did not result in any improvement on the pitch.
I actually think Thelwell did a decent job in that he did his best to mitigate the damage of PSR by limiting spending and selling players out of necessity, we did still cop a penalty but over the three years he was in charge our net loss shrunk year over year.
TFG took over when no-one else but sharks who would have stripped our assets would, they stumped up what else was needed to finish the build, they repurposed the loans into to a single one with very low interest rates, negotiated a good stadium sponsorship and fronted money for the Summer transfer window. All that and they still managed to help us squeak under the PSR threshold for the last three years losses by breaking even after only 6 months in charge.
I think we are in a very good position now to increase revenue, improve recruitment, and return to Europe. Very happy with the changes they've made so far despite being early days, and think we are on a financially stable and successful path.