To hazard a guess:-
If players were on performance bonuses for the previous season some of it may have gone there.
Larger squad plus reserves would have taken up quite a chunk.
Rent arrears?
Upgrades for office equipment as has been mentioned, along with maybe other expense like gym equipment that could soon add up.
Maybe one of the biggest things that may have got overlooked is that quite possibly the extra money meant that our directors did not have to dip in to their own pockets as much as they may have done in previous seasons?
I would be amazed if any of our current directors took any money back but if they did then it will probably show on the balance sheet and even if they did as has been said we should be grateful they were willing to put their own money in in the first place but I doubt its a case of them taking money back anyway.
Our directors backed our coaches vision of trying to make the club SL ready which would take a few years but last seasons under performance by playing and coaching staff has left the club in a bit of a mess and the only criticism I would lay with our directors was that maybe nobody said "what if?" what if we do not finish in the top 4? It was easy to get caught up in the hype though so who could blame them if that were the case? Our team looked unstoppable and you would have been hard pushed to find any fan of this league who did not predict us to finish in the top 4.