He's covering for his own ineptitude. Can't believe I'm going to defend Rudkin, but the problem is just the players we signed and the salaries they are on but also the complete lack of commercial skill displayed by Top and his executive team (which includes Rudkin). Think about the success we had and the fact Leicester City became 'the' club outside of the big 6, with massively increased global fanbase and the fact that our sponsorship/commercial income was pathetic, and the decision to build seagrave before the stadium expansion.
Rudkin is the tip of the iceberg. If we didn't have utter morons running the club all over, we'd never be in this mess.