FGR's downfall started over 12 months ago. They were victims of their own success. When they got promoted from League 2, Rob Edwards left for Watford and part of the spine of their promotion winning side left as well. Ebou Adams, Kane Wilson and Nicky Cadden all left, so Ian Burchnall was basically thrown in at the deep end, at a level he'd not managed at before, at a club that hadn't been at League 1 level before.
They didn't recruit well enough in the summer of 2022 and despite Burchnall trying to keep them competitive, FGR as a club, were just out of their depth at League 1 level. Showing how difficult it was, Duncan Ferguson only won 1 of his 18 league games in charge, against a Sheffield Wednesday side, who were doing their best to try and not get promoted. FGR's defence was horrific and conceded 89 goals, only scoring 31 as well.
Sometimes when a club has such a disastrous League 1 relegation, that can carry over into next season. It's happened to Stockport, Chesterfield and Southend, Sometimes that process can take a few seasons but eventually catch up to teams. This has happened to Oldham, Rochdale and Yeovil. In the summer of 2023, they lost players who will have been good enough for this level to help them at least stabilise. Bailly Cargill, Corey O'Keeffe, Regan Hendry, Luke McGee, Ben Stevenson, Udoka Godwin-Malife and Armani Little.
It also comes from the top. Dale Vince has always been known to have an ego, ever since FGR stepped foot in the football league. The guy loves the media attention. Just look at his Twitter. The current situation gives off Notts-Alan Hardy vibes (not in that way) of an egotistical owner and a shambles of a football club, due to the carelessness in which it is being looked after.
The appointment of Troy Deeney gives Vince what he wants. A big name in the dugout and the media attention to go with it (see Notts-Harry Kewell vibes). Said manager calls out players - he gets sacked - 3rd manager of the season already needed. Deeney was literally a pundit for the QPR-Watford game, the day after his ran, after they lost 2-0 to Harrogate. They've actually recruited well this January so far, but when it's not settled at the top, them problems make their way downwards and onto the pitch. They now have a big squad, no manager and an owner, who at the moment, is too busy pushing his political and personal views, rather than caring for a football club, which is heading for back-to-back relegations.