I hope I didn't come off so hard. What I mean to say is that you really should listen to the advice here before opening the most challenging business in the game.
If we are thinking solution mode I think you need to trim down that roster. It would be so much easier to just release, close and reopen 2 weeks later with a better gameplan.
The guys here have much more experience thank I but imo to rebuild it under say 320k will be tedious as you have to boot all the older fighters and some of the new ones will get upset and leave anyways. Better to start fresh in my opinion.