It depends on the clubs strategy to risk, sustainability and consistency - i think Stoke were the for runners, they showed they could do it with a championship squad and incrementally improve.
I think most clubs hedge their bets, in a way Norwich are better of financially then Forrest after two promotions. Norwich come up first time get the revenue - try and stay up, dont, go back down and then get the parachute payments - they have more money in the championship then everyone else - come up again, year in the PL - go back down more parachute payments - Norwich two promotions are worth 200 mill to them in PL revenue and 160 mill in parachute payments. They take a long term view until they crack it. They dont need to fire sale and will back themselves for promotion. If Forrest go down there will have to be a fire sale, but they look at it as a worthwhile risk to stay up, Norwich reinvest it in a long temr approach, Forrest and blowing it now.
Its about the clubs attitude to risk, consistency and sustainability and how much they want to take on.