Theory? TBH i don't have one, i've no idea what happens behind the scenes at the club, and because of that for me to start issuing blame would be ridiculous.
Most of the problems lie away from the club IMO. when you have agents looking out for their players best interests (themselves), the media finding stories on the back of fag packets and players themselves thinking that they're the Scottish equivalent of Lionel Messi and as such are deserving of inflated salaries, then your going to struggle to attract/keep players of any quality.
In the modern climate there is a distinct lack of loyalty, and when you can triple your wages down south, we're always going to struggle.
I must admit, if another company came to me and offered me 3 times my wages to work for them i'd take it.
i can't see how you can blame WM for this.