Revolutionary consumed by local money in Split (8)

I believe the answer is:

breached

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'split' is the definition.

'revolutionary consumed by local money' is the wordplay.
'revolutionary' becomes 'che' (Che Guevara the Marxist revolutionary).
'consumed by' means one lot of letters goes inside another.
'local money' becomes 'bread' (bread is a kind of money. I am not sure about the 'local' bit.**).
'che' inserted into 'bread' is 'BREACHED'.

'in' is the link.

Can you help me to learn more?

(Another definition for breached that I've seen is " broke".)

I've seen this clue in the Irish Times.

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