Of course some of it will be invested in the squad.
I think people need to read the statements from Waggott and Fisher carefully. The monies are being put in to the football business. Like many businesses the football business has many facets that require paying they include players wages, staff wages, utilities, overheads and loan interest. A football business is not just about ticket income it also includes the buying and selling of players.
What the incomes from the sale of Wilson & Christie do is to provide a budget within SMCP that the club works to. The Arsenal and Clarke money was in the previous years budget. Had there been no sale of Wilson in particular then I suspect the player budget would have been less than £1m (unless SISU put more money in by way of gift or shares). Had he not been sold then we would have been relying on the academy next season. As it is if you look at the 15 or so first team players we have listed most fall within SMCP so it could be argued the Wilson sale was always going to happen in order to provide a budget, avoid an embargo and to not be an academy team out of its depth in L1
As for "invested" it depends what your definition of investment is. I suspect the average football fan sees that as buying players in. What the Wilson sale does really is pay the wages and bills which allows the club to breakeven whilst at Sixfields - is that really "investing" in the team? To have a business at all there has to be players capable of playing in L1 - guess we wait see if we have that.
To my mind the Wilson money etc basically helps pay the bills - which includes players wages. So yes it will be "invested" in the team at least in part but I don't think it is an investment in building more an investment in survival