It's interesting to apply the Kubler-Ross 5-stsge model of grief to their situation. I always thought this was a linear model, where you moved from one stage to another, eventually getting to the end state. Yet Peg seems to be exhibiting all five simultaneously.
Stage 1 - Denial. "We're the unluckiest club in the world. We're dominating opponents but aren't getting the wins".
Stage 2 - Anger. At refs, his players, his situation and anyone/anything else, real or imaginary, that annoys him.
Stage 3 - Bargaining. "All I need is 4 more transfer windows and a billion pounds then I'd have a world-beating team.
Stage 4 - Depression." I'm living in a hotel and my family are staying in London".
Stage 5 - Acceptance. "We have to be realistic. We aren't th at good any more and we need to rebuild".