In an ideal world that's true, but until there is a proper salary cap in the PL, the reality is that the higher up the pyramid a club is the bigger the debts they accrue are. Man Utd are £360m in debt, Man City lost £98m last season and £197m the season before, etc etc. Albion are over £100m in...
It's a posioned chalice though. A few seasons in the PL are fair enough, but unless you don't bother trying to be that competitive (like Watford did a few years ago) you'll end up back in the Championship with an albatross of debt. Things may have changed with regard to TV money, parachute...