Of course we can! Such a shame the club has been badly run over the years, bad owners, bad transfers, bad choices of manager. It should never have got to this stage but its going to be really tough to compete simply because there are now 4 top teams to compete with not just Arsenal and Man Utd. Unless Roman Abramovic and Sheik Mansour bugger off or we find another Billionaire who is willing to throw money at the club its hard to see us winning it.
Only way is to get a top manager in who can attract top players and back him financially. Someone like Ancelloti could do it, 3 years 50 million net spend a year (easily doable with the TV money).
Where on earth did this rubbish of "top managers" attracting "top players" come from? What attracts top players is top clubs, and top earnings, plus the opportunity to play regularly and win things, with club location and tradition also having a lesser bearing on their choice. Who the manager is has very little bearing on their decision one way or the other.