One thing I can’t quite work out

The PL will never want to lose its flagship teams, however what I can see happening is a restructure with the PL splitting into 2 leagues PL1 & PL2 to reduce the teams to around 10/12 in PL 1 to allow them to compete in some sort of super league, having less games.
By having 2 leagues the PL brand will be able to increase games under a new broadcast deal and generate more funds, the below model is an increase in 88 games but reduces matches for each club, the big teams wouldn't be bothered that they weren't playing teams like Bournemouth, Brighton and Brentford anymore, and from a marketing point they probably be able to increase subscription costs.
The trickle down of money would also be greater, stop parachute payments to champ level but keep in PL2 only and redistribute funds, ultimately though without a curb on wages any increase will see wages swallow up additional monies.

PL 1 = 10 Teams
PL 2 = 18 Teams
Champ= 20 Teams
EFL 1 = 22 Teams
EFL 2 = 22 Teams

 

Surely all that would do is make the PL2 the new Championship etc so the issue of parachute payments would still be there?
Theres almost an argument to say the only way to manage the chasing the riches dream is to make the PL1 a secure league with no relegation and no promotion to.
That way the big money would go there meaning clubs & players would gradually bring their expectations down as you would only get the big riches in the top league.

Not a fan of the principal of no relegation/promotion but it could work in terms of managing the finances of clubs.
Personally still think EFL/PL should set budgets for each club that they have to stick to, clubs can yearly apply to change the budgets but once set adhered too.
I would add in automated punishments of points and/or relegation for non compliance.
Key of course would be managing it.

 

But if you reduced the funding slightly to PL2 with better redistribution it would mean you could keep parachute payments for PL 1 to PL2 but not from PL2 to champ.
Ultimately the big clubs decide what's happening in the game and i just can't see a situation where they wont want to reduce their games to compete in a super league.
A restructure will happen in some format

 

Our bloated list of club staff as well. Too many cooks spoil the broth springs to mind.

 

Arguably worse thing ever to be allowed to happen was the formation of two entities in the PL & EFL.