For me, if you are coming with ambition and money then as far as a business plan is concerned, PL is a foregone conclusion....so you are just paying £50m over the odds.
I think you summed up in your last sentence because frankly on a purely commercial basis, we are probably one of the least attractive propositions in the country. Aside from the obvious day to day stuff, we don't own our training ground, we have a millstone of a stadium that doesn't sit on a big enough plot of land for redevelopment. Of course this is not how football clubs are valued and there is brand value but we are not an enormous multi-national brand commanding respect all over the world so that has it's limitations.