Peter had an episode of WBD talking about him buying the club, back story, and future plans if you're interested.

But yea, they just won rank 9 and will be promoted to rank 8 next year. Premier League is rank 1, so if everything goes perfectly, it will be another 8 years to get to the Premier League. But like GR said, it will probably not happen that smoothly and likely take decade(s), because it gets a lot more competitive at the higher ranked leagues.