See it can be done:

If a club is run properly:

Come up from League 1, above all 3 clubs that have just come down from Premiership.
And above the rest of the Championship.

Not a massive club Ipswich Town but run properly.

"There's a tiny bit left of debt left, £400k, that remains between Ipswich Town PLC and Ipswich Town Ltd. That's the only debt that remains. Apart from that the club is debt free." The summer of 2021 was an extremely busy one in terms of transfers, with 19 new players arriving and 20 departing.

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New Ownership

This was part of the transformation under the new owners, who purchased the club in April 2021 for a reported £40m. As a consequence, Ipswich Town are now majority owned by the wonderfully named Gamechanger 20 Limited, though the ultimate owner is a US investment firm, ORG, with a 90% stake. August 2023.