I don't deny that the PL is a vast money-making scheme for whichever clubs happen to be in it at any given time, but I haven't seen any proper evidence to suggest that any of the top clubs want to end promotion and relegation - any such action would surely be counter-productive, since the relegation fight is usually more exciting, and certainly more nerve-racking, than anything going on at the top of the league.
I'm a fan of Chelsea, as I've mentioned here before, and as things stand, they're likely to be in the top 5 or 6 clubs in the PL for the next few years at least. But even if things go wrong, as they do for pretty much every team at some point, I wouldn't want the protectionism of a closed-shop top flight. The pyramid system of English football is for me a sacred cow, something that is so important to the structure of the sport in this country that it would be a sort of sacrilege to ruin it in such a way. What's more, I honestly don't think that the management of Chelsea, Man United, Man City, Arsenal, or and of the other so-called "big" clubs would want to change it, either.