Cracking challenge. I'm playing a similar game albeit independently from this challenge by starting with Cefn Druids. I'm on FM21 Touch and in season 2025/26 and like you managed to get to the Europa League Group Stages having fallen at the final stage in the Champions League. I lost every game but still took home £2.6m in getting there. I spent it all on Training / Youth improvements.
I'll keep an eye on this challenge, but as I started outside of the parameters set I wont post