McNally and Bowkett were instrumental in convincing banks to give us a one year repayment holiday, at the height of the credit crunch when businesses of all sizes, all over the country and in all sorts of sectors were having credit facilities withdrawn and being forced into liquidation as a result. If they hadn't have won the trust of the banks we would have entered into administration in that League 1 season and would not have had the money to either sign Grant Holt or keep Wes Hoolahan (who's agent was trying to convince to leave, by the way). How would we have got out of that, selling Colney to Bovis Homes?
He then had the balls to sack a club legend after one game of the League 1 season and steal a manager that he already knew personally from a rival club without their permission. He plucked up the courage to do that when he was just a few months into his own job.
Collectively these are probably the two most important actions we've seen from our club in modern history, and I highly doubt we'd have seen the Premier League football in the intervening years if they hadn't happened.
McNally came into a club which was close to administration, with a shambles of a manager, and left one which was debt free, seen 4 years of Premier League football, and had Category 1 academy status. We've got a hell of a lot to be grateful to Bowkett and McNally for. They were precisely the type of ruthlessly determined and focused people that we needed to come into this club at a time of genuine crisis.
Perhaps it would help if you imagined what state we could be in if we had appointed Jez Moxey that summer. Bare in mind that Coventry City are currently bottom of League 1 with a stadium they don't own and can't even afford to rent. They were in the top division of English football every season between 1968 and 2001, and at that point in history (2001) their attendances were significantly larger than ours. They still have more years in the Premier League (founded 1992-93) than we do, despite them not having been there for the past 16 years.
From having that famous Premier League team between around 1998 to 2000 containing Steve Ogrizovic, Gary McCallister, Dion Dublin, and Darren Huckerby, to probably playing in front of 2000 away to Barnet, Morecambe and Accrington next season.
We shouldn't arrogantly assume that it couldn't have happened to us, it could have and it was largely thanks to McNally and Bowkett pulling us up by the scruffs of our necks that it didn't. Foulger stumped up a bit of cash at a crucial moment too.
Now back to Moxey, what would he have done? Kept Gunn until it was far too late to, failed to return at the first attempt, and then having a huge bank debt called in which puts you into administration whilst simultaneously shedding a few thousand season ticket holders? That's how you lose your ground and become a Coventry City.