If we get promoted I have no doubt that our board will try and do it in the tightest way possible, as you rightly say this would likely end up as a false economy.
There's a massive existential problem of being a PL team in the way that we will be if we ever get there. We all know that it won't last forever and even if we did end up doing a Wigan, Stoke, Bolton etc and last a few years, at some point you commit to massive wages and it all goes tits up. You then get relegated and end up in the Championship absolutely screwed if you don't get an instant return.
Sorry to be a miser but this is the reality of the future for us. We either piss about and don't commit in the Championship and have the odd season in the PL and rich when we come back down or we commit and end up fucked in the long run.