Financial fair play question

With all the cost cutting going on to comply with FFP and also to run the club as a business.
What happens when we go down to division 1, when I assume our income will drop yet again due to reduced sponsorship, falling gates, less tv money
Anybody know the rules in plain english on FFP for division 1.
How many of our players contracts extend past this season and beyond.
I see the situation getting worse....

If we go down the club can spend 60% turnover on wages, however being newly relegated means a club can have 75% on wages.

At present there is nothing in place for maximum loss or if we needed Tan to inject more money.

Hope that helps s little.