Assuming this is accurate, they'll get 49m in year 1, 40m in year 2, and if they were in PL for multiple seasons, an extra 20m in year 3
https://eflanalysis.com/news/championship-parachute-payments-explained/
I thought it tapered off more than that.
So this season we have to compete with 4 teams receiving 40+ million of PL money, which is around double our total 23/24 revenue.
Also, I'm sure it used to be that if a team gets promoted at the end of year 1, their remaining parachute payments get distributed to the Championship teams, but seems something changed and the PL keep that now.