Arsenal are set to rapidly increase their revenue thanks to new sponsorship deals in the years ahead.
“We should be able to compete at a level like a club such as Bayern Munich,” Gazidis told the Telegraph. “I’m not saying we are there by any means, we have a long way to go before we can put ourselves on that level.
“But this whole journey over the past 10 years has been with that goal in mind, which is why I say that this is an extraordinarily ambitious club. This has been about putting us up with the best in the world and now the question is turning that platform into on-field success.”
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The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.
Five English clubs will compete in the last sixteen of the Champions League for the first time ever as Liverpool, Manchester United, Manchester City, Chelsea and Tottenham face some difficult away matches.