I didn't even plan to promote last season, but the best team in the league lost in the second round of the playoffs, and the rest, as they say, is history. At the start of this season I set my goal as survival. I planned to stay in the cup for as long as possible to help maintain finances and enthusiasm. What has happened so far this season has far, far outweighed my expectations.
My point is, don't underestimate your chances if you promote. You have a good roster, and already have a huge stadium - a luxury that I didn't (and still don't quite) have. You get £1,000,000 for promoting and if you spend this wisely and update your roster well you will have a competitive EBBL team. You can pick up EBBL standard big men for next to nothing these days. A couple of them and a new guard should be all you need. One bit of advice I'd give you is don't be scared to buy old. A 29 year old still has 4 seasons until his skills start to decrease, and even then they won't decrease too drastically for another year (in my experience anyway).
One thing I'll say as well is I hope for your sake (and mine as well) that if you do promote you go into The Great 8. The Big 8 already has enough talent, let the other side have some!
On a side note, I'm not too sure why Moomins has tanked if I am honest. Sonics will forfeit every game this season, so he'll have to lose every game and forfeit at least one to get 5th (I'm not 100% sure 5th is even a possibility). He's probably the favourite to make the playoff final too. Doesn't make sense to me.