Look the question is a very subjective one and so peoples answers will differ as we all use different parameters to measure the grandness of our club.
There is no doubt we are a big club if you look at material assets such as the Wengerbowl, London Colney and Arsenal's property portfolio. You could, and should, also include players as assets but on that front we are considerably weaker in value than we were even last season let alone when the Invincibles side were about.
The creation of our wonderful new stadium (
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) has meant we have had to downsize in other areas, notably player investment despite promises to the contrary, and so from a purely footballing perspective we are no longer the force we were and we are no longer regarded as a big fish.
Ask 1000 people who will win the Champions League this year and how many will say Arsenal? Ask the same question about the Premiership and again how many would plump for Arsenal? Compare those findings to maybe 5 years ago and it is clear to see our reputation and standing has diminished.
On the revenue generation side, this has obviously increased due to the new ground and the club's wonderful new attitude to its supporters, sorry I mean members, and so from that perspective we have grown and are a more investable proposition. We are a money making machine.
With regards to history, yes we have plenty of that domestically but one Fairs Cup and one Cup Winners Cup is hardly remarkable and this is demonstated by both competitions now being defunct. Doubles mean an awful lot to us but what do they mean in terms of staus to the outside world, not a lot really. Man Utd and Liverpool have won plenty domestically but it is their acheivements in Europe that have given them the status they enjoy throughout world football, the same status that Man City and Chelsea are striving for now.
My overall feeling is that we were a big fish in a small pond (Premier League) who very nearly pushed themselves into a even smaller pond with some very big fish (Europe) but we never quite made it.
Yes, we are a big club but to be honest big isn't that impressive these days as we are in a generation of super clubs that dwarf us! Gazidis himself admitted that this week when asked about transfers. If we was to raise our level of spending the giants would simply raise the bar to a whole new level again he said, something Arsenal simply cannot do.
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