https://staceywest.net/2021/09/22/de...in-league-one/

The lure of Premier League football has led plenty of clubs down the wrong path; Portsmouth are another fine example of the boom or bust mentality in the second tier. The Premier League money may be the saviour of many clubs, but it is the undoing of others. Make no mistake, had Derby beaten Aston Villa in the 2019 play-off final, it would be likely that the Villans, not the Rams, would be in this dire position...

Championship clubs were spending 107% of their revenue on wages, and that’s not easy. Why don’t you try spending 107% of your income on bills? Not possible without severe problems surfacing very quickly.
A lot of positive chatter about Aston Villa recently but they were run extremely poorly while in the Championship before Chester's body and Grealish's skill took them up - they then survived (partly) by goal-line technology failing and VAR not stepping in.

Of course part of the problem is that Putin's best mate, Qatar (sportswashing) and American debt owners have completely transformed football financing and others are shooting themselves in the foot in order to keep up.