Team in deep debt - am I screwed?

I took over the Stafford Rangers in the BSN without realizing they were in 350k debt to bank loans. I have been with them for three seasons. I have been slowly improving the team, but cannot get anything from my board of directors. I cannot even get them to relay the field.

I don't want to start over, or leave the team. Am I crippled under this debt? Will not being able to buy and upgrade facilitates seriously hinder my ability to climb into higher leagues?

Get a parent club

Instead of signing new players - loan youngsters from upper leagues

Sell / free transfer the ones who earn the most

Normally, when managing in the lower leagues I never, ever sign new players, because they're a waste of money - and usually have to be released upon promotion, because they earn a lot and are too weak to compete in L2 for example.

It's actually quite easy to get promoted thanks to upper league loan players, who (in my experience) always pulled my low-league teams forward.

It's either that or edit the save to remove the debt

Get a cup run together, get ot the 3rd or 4th round of the FA Cup and get a plumb tie at Old Trafford will wipe out your debt and leave enough to lay a new pitch.

So if I were you I'd concentrate on the cups and rest key players for the league match before them so that they're in top shape.