Crystal Palace chief Steve Parish admits the prospect of relegation frightens him.

The Eagles paid out a club-record £32million for Christian Benteke this summer — not to mention his reported £100,000-a-week wages.

Parish told The Sun: “The scary part for clubs paying big fees and wages is relegation. The parachute money only takes you so far.

“If you finish mid-table and you're Crystal Palace, you're going to have roughly a £130m turnover. But after four years in the Championship, it'll be about £15m-£16m. What business can really adjust to that?

“If that gulf widens, possibly you must have a Premier League 2. But a double-tier Premier League is difficult as there is a lot to consider.

“Are you connected to the rest of the Football League, for example?

“Because you need to keep that dream alive to sustain the scale of the game."