Chelsea or Arsenal

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If Arsenal wins the CL final, then Arsenal has had the better season. And it's not really close.

If Arsenal loses the CL final, then I think it's a good debate, and I would narrowly give the edge to Chelsea.

Edit: Put it this way:

Would Chelsea trade their Premiership trophy for the CL trophy? Of course.
Would Chelsea trade their Premiership trophy for a spot in the CL final? Maybe.
Would Chelsea trade their Premiership trophy to be CL runners-up? Probably not.