That's the thing. As much as I want this takeover to happen it won't change much other than likely make players even more unobtainable as clubs start to take the piss. With FFP we can't catch up and without FFP we'd have to outspend Manchester City by a large amount as you know that without FFP they would spend £300 million a season.
That said: if we, hypothetically (discounting FFP), spent as much as City the next windows, we should end up being considerably closer to them quality-wise. The farther down you are in the ladder the easier the climb would be.
Initially yes. The climb from 17th to 12th would be pretty easy. From 12th to 6th pretty hard. From 6th up almost impossible.