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They were never a fashionable club in the Premiership so didn't have the same level of revenue as other clubs in terms of merchandising etc. But they still had to spend money on players to compete with other Premiership teams and they made some poor signings in their last couple of seasons in the Premiership, then they spent a fair amount of money trying to get promoted again once they had been relegated. When they failed to get promoted they quickly realised they would have to tighten the purse strings - they are bleeding money. They have been offloading players and bringing in loan signings to cut back on expenditure this season - their league position reflects how weak their squad has become as a result.
On the plus side, Nicky Bailey is now playing for them - he used to play for my local side when he was younger and he is destined for the Premiership, quality player. If they can pick up a few more bargains like him they'll be just fine but it's not looking too good at the moment!
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