Why not use a "year in hand" principle?
If you are promoted you immediately get the prize money given to the bottom clubs the previous season. You can then use that to add to your squad or whatever you choose to make you competitive without going into debt to the levels you can now.
If you are then subsequently relegated you don't get parachute payments.
I don't think it helps much.
The problem is contacts. An average PL salary is around £60/week for 4 years. That's a commitment to pay £12 million, before any fee has been mentioned, and that's just for 1 player.
I don't think a lump sum up front manages.
I've been a bit cynical about how much advantage parachute payments have actually given relegated clubs in the last decade or so.
Forget this season and last: loss of other streams of income have massively exaggerated the impact of parachute payments.
In the previous 8 seasons, only 7 teams have bounced back at the first time of asking, and 4 of them were via the playoffs. You might still say they are over represented, but I'd argue newly relegated teams have been amongst the favourites for promotion of 100+ years. In that time, 2 newly relegated clubs have managed to get relegated to L1 at the first attempt too.
Until last season, the championship really wasn't dominated by parachute payments, despite all the hot air expended on them. They go hand in glove with the lodestone that every PL club has: big contracts for failing players.