PSR is measured over 3 year period, which can hurt relegated/yo-yo clubs as the rules are a bit tighter down there. Under PSR, if we went down and got promoted the season after, our spending limit would be a bit lower due to the stricter rules for that one year in the Championship. That's essentially why Leicester got a points deduction - they gambled then tried to game the system and got stung by the PSR rules in the Championship.
The new Squad Cost Ratio rules coming in next season in the Prem are done season-by-season so if we go down and come back up our PSR in the Championship won't be a factor (Championship is sticking with PSR).
Either way, we're in a strong position for both PSR in the Champ and SCR in the Prem, by my understanding.