I'd imagine still yes. There seem to have been whisperings of this potential move for months now. Realistically, the rules still mean that they are more likely to be long-term challengers than us. We are doing brilliantly to keep doing so well despite the restrictions.
More likely short to medium term challengers, possibly, but long-term? I'm not so sure. They were only just over £100m ahead of us in revenue terms in the last set of accounts. Which is significant, but not insurmountable. They themselves are £100m behind Spurs, who are the next lowest in the so-called big six. Then it's another £100m till you reach the top 4 English clubs who are all pretty close around the £800m level.
Of the so-called big six, Chelsea are definitely the ones we are most likely to catch and replace first. I would imagine in the next two years (current form/trajectory holding, obviously). But it could be five or more years before we're in the revenue range between Spurs and the top 4 - which is where we need to be in order to challenge long-term, and not find ourselves financially hamstrung by one bad season.