1. Some players won't want to be seen dead in the 3rd tier, and would be off like a shot. (Our Dutch Tw@t "manager" (sic) certainly wouldn't, but no loss there).
2. Our income will be substantially reduced so the possibility of significant signings would probably be close to zero.
3. There might be an adverse impact on our Academy status, with a consequential loss of either current academy players/staff and the prospect of attracting new talent to same. (More knowledgeable posters than myself will possibly be able to advise on FPPP status?).
4. Financial Fair Play restrictions will presumably we more onerous in the 3rd tier?
So putting those to one side for the purposes of this post, I reckon we could be looking at a squad for next season as below:

Given we're talking about the 3rd tier here, I would imagine that squad would be quite formidable - assuming we get hold of a proper manager. Then again, it is very inexperienced.
Just musing, so please feel free to ignore!