Ex-Wigan Athletic boss David Sharpe on the "addiction" of rich Championship owners
And he is concerned for the future of the clubs if billionaire backers get "bored" and decide to withdraw their investment.
Sharpe told the BBC the Championship was a "billionaire's gamblers paradise" and said: "People with such deep pockets are hoping - whether it's a fame thing or an ego - but hoping to get to the Premier League, and only three do it every year.
"So there are many teams and many owners who miss out, and it's who's got deep enough pockets when they do miss out to go again?
"Just like a gambler might have an addiction, who's got that addiction? Who's got that money to go back and keep pumping the money in to get there in the end?
"And not many do. My worry is that the ones putting in money and get bored, and leave with such big debt and high wage bills."
Sharpe, who took over Wigan from grandfather Dave Whelan in 2015, has previously said the family were putting in "nearly £1m a month just to keep it going" despite having the fourth-lowest wage bill in the Championship before selling the club to the Hong Kong-based company International Entertainment Corporation.