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Of course. When Brighton went up, Southampton and Crystal Palace were both already quite "established" in the PL and were past the "trying to rebuild a Championship top squad into a decent PL one"-phase which is usually means a few very costly couple of transfer windows.

Had a look at it recently... Last 3 years is still a small profit if I've done the math correctly. Last 5 years is a small deficit IIRC as it includes the 2018 and 2019 transfer windows where there was a fair bit of investment to keep the team up, while not really selling anything of value.

All while taking a huge jump upwards in the league table. Unheard of in the PL.