cheers, wgs. glad you enjoyed it
to answer your questions,firstly, no, it doesn't effect any saved games that are already in progress. secondly, i took the following editing steps:
*swapped liverpool and leicester so that leicester were in the premiership and liverpool in the championship.
*went through liverpool's squad and any player who i deemed particularly talented was released. do this by un-ticking the 'club' button in their contract details page
*on the club finances pages, reduced the 'balance' to £250,000 and the transfer budget to £0. in the box for loans on the same page, added a £150M bank loan with 48 repayments left. that was interpreted by the game as payments of £1.3M per month but it seems pretty random as to how this turns out in the game. like me, it might take you a bit of trial and error to get it to where you want.
*one thing i meant to edit was the club's reputation. i found that a lot of top players were still interested in signing for me (thankfully i didn't have the money otherwise i'd have been a bit too tempted) but this can be edited via the main club page in the editor.
*after that, it's up to you whether you want to do anymore, such as edit attendance levels, etc. seeing as liverpool has become a little spanish enclave, i was tempted to put us in the spanish leagues, but decided against that at the last minute. i did run a test season with liverpool in the second divsion b of spain, though, and you don't have to do anything complicated such as editing the club's nation or anything like that, again just swap them for a team in the division you want them to play.
hope that all makes sense and is of some help to you. and good luck if you decide to give it a shot :thup: