Do you think Derby players are playing better or worse because of their financial problems?
Or Barcelona? Maybe they were playing really bad at some point but this was because of a bad manager and losing all their players due to a bad board and bad mistakes. The finances alone does not make a club have low morale because if they did,,, then they are a weak club anyway and do not deserve to play
I know that money is not everything for a club but it is definitely a very important thing for any club. It is important to have enough money so that the squad can be built as expected by the manager. Otherwise, it might affect the results.
A club can have great players but unless they are working together nothing great is going to happen. on the other hand, even if a team does not have great players they can perform well if there is enough chemistry.