Lets put it another way, 5 Carling Cups in the next 5 years or 5 qualifying but not doing a great deal, a la Arsenal, in the CL?
I guess it's not as easy as answering that!
We could .. improve after winning 2 carling cups and eventually get into UCL in the 3rd season or we could also attract top players if we finish 4th in the first two seasons which may eventually lead to more trophies in the future.
And winning the Carling Cup does not give us a chance at the European Cup while being in the UCL still gives us a chance in the Carling Cup.
Arsenal may not have won a European Cup despite qualifying for it in the last 15 years or something but we won't be adding to our awesome already five if we don't enter it.
Don't get me wrong. Trophies are very important because it is what you win, that counts but for the future and potential success of the club, it's vital to be in the European's elite football competition.
Seeing 2012/2013 is our third season without Champions League (we'll be out for almost a decade by the 5 seasons come), I'm afraid we'll actually not improve alot more than we could by qualifying for the Champions League.
And as I've said before, big clubs, compete for everything best possible. Unless we accept we're no longer a big side, I don't see why many would settle for no Champions League for almost a decade. The longer we're out of it, the harder the task it is to start competiting with the best.
In this case, I'll take top four.
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