You're missing my point. I'm talking about how, for an investor-type buyer, there's potentially less financial commitment needed to be put into us to realise a profit of say, £100m, than would be needed to put into you to yield the same profit.
I'm saying you could buy us for £150m, spend £100m getting us to lower half PL, and you have an investment worth about £400m (going off Ashley's valuation of you now). That's a £150m profit on a £250m investment. To get you to the next level, they'd have to buy you for £400m, and may be spend as much again to get you to Europa League level. The club might then be worth, say £1bn. That's a £200m profit, but you've had to commit £800m to get it. Assuming, of course, either investment works; as we both know, football is very far from a means of guaranteed success. However, for an investor-led buyer, buying us would seem to require less upfront capital. For a buyer for whom that's not a relevant factor, then, at the moment, you're closer to playing with the big boys, and thus the more attractive prospect.
By the way, the only rewards the PL gives you is a better share valuation, and, for a certain kind of owner, a chance to bask in a warm, fuzzy glow of reflected glory. Any extra income you might get is swallowed up by additional wages, etc.