I agree - there is zero chance the tax payer would swallow the government covering the circa 2mil a month running costs of the club.
With a budget of £10m, the best we can hope for when it comes to the football regulator is them forcing (and taking over the process of) a sale of the club, but that in itself I would imagine will be hugely complicated.
A football regulator sounds great in principle, but the reality is different, particularly when this is a path which hasn't been trodden before - we just need to hope they want to build some credit up in the bank by going hard on Chansiri, otherwise I fear they will just become another quango...