As regards the Premier League, about two years ago there was a report (don't ask me which as i cant recall it) which stated only 1 club was running at a profit in the PL and only 3 sides out of the top 44. To me that isn't success regardless of the on the field product because eventually it'll catch up with them.

P & R whilst entertaining leads to haphazard management and short term solutions which lead to long term problems. I don't see the need for change in the SL structure nor franchising just maybe a tinkering with its implementation and the attitude of clubs towards their financing.

I know what you are trying to say, but if Wigan have got it right, why is the best prospect Wakefield has produced in recent years ripping it in Cherry and White?

It needs more than tinkering - it has lost all legitimacy.

It is now clear that although licences are awarded in large part based on the business, the club is regarded as a distinct entity and retains the licence even if the business fails utterly. Making the assessment all rather pointless.
(some) People were willing to turn a blind eye for Crusaders, for the sake of expansion. Wakefield - everybody assumed they were on their way out anyway and it was just tidier not to hasten their exit. Now with Bradford, it is impossible to pretend the system has any meaning or value, even as a fig-leaf for franchising.
You could argue that it was the implementation and lack of clarity that was the problem, rather than the principle of licensing. But a relaunch, with a promise to do it properly this time, just wouldn't fly. It was controversial enough in the first place and its reputation has been dragged through a hedge backwards.

Who?