Tottenham manager Harry Redknapp thinks Arsenal now have an "unbelievable" chance of pipping Manchester United to the Premier League title.
Morale may have taken a hit but Arsene Wenger's side still have a good chance of ending their six-year trophy drought if they can overcome the three-point gap which separates them and league leaders United.
The Gunners have the advantage of a match in hand - against Tottenham at White Hart Lane - and have arguably an easier run-in than the Red Devils.
United and Chelsea will face each other in the Champions League quarter-finals and despite their elimination from the Europa League, Manchester City still have to fight on two fronts given that they are in the semi-finals of the FA Cup.
That, Redknapp, believes gives Spurs' north London rivals their best chance of winning the Premier League title since they last lifted the trophy in 2004.
"Arsenal have got an unbelievable chance of winning the championship now," Redknapp said.
"They are the only team with a clear run at it so you'd have to think they've got the best chance they're ever going to have.
"They are not playing Saturday, midweek, Saturday, midweek, like some of the other teams."
Some suggest that Arsenal's capitulation against Birmingham in the Carling Cup final in particular shows that Wenger's young side do not have the bottle to last the distance.
United have the added incentive of knowing victory in the title race would give them the biggest haul of league championships in English football history, but Redknapp fears injuries to key players and fixture congestion could count against them.
"If Man Utd can go on and win the league now, with these games coming up, that would be an amazing feat," he added.
"They have injuries - I've read today that Rio Ferdinand could be out for the season.
"Arsene must be sitting there and saying: 'This is fantastic'."
Redknapp was beaming with excitement earlier today after he learned that his side had been drawn with Real Madrid in the Champions League quarter-finals.
Tottenham made it through to the last eight after beating AC Milan, but the tie was overshadowed by Gennaro Gattuso's headbutt on Joe Jordan after the first leg at the San Siro.
Jordan and Gattuso also squared up to each other during the match but the Tottenham first team coach did not react physically to Gattuso's headbutt, earning him much praise.
Redknapp slammed UEFA for the ban, which means Jordan will have to watch the first leg from the stands at the Bernabeu.
"It's crazy. I don't know what Joe's supposed to have done, except get nutted," Redknapp said.
"When he started giving him abuse, Joe might have said 'f*** off'. Now if that is worth a one-game ban, well...
"What is he supposed to say? 'Go away old chap, stop nutting me'?."
Gattuso initially claimed Jordan had racially insulted him before later retracting the claim.
Jordan denies he did anything wrong but it is understood that Tottenham are unlikely to appeal the ban.
Redknapp lost all five of his clashes with Madrid boss Jose Mourinho during the Portuguese's time in England but the former Portsmouth manager is looking forward to seeing the charismatic character again.
"It will be good to see him. He was amazing for English football when he came," Redknapp said.
"He was a fantastic coach and a great manager, a real personality that lit the Premier League up when he was here.
"He's a great personality, has a great knowledge of the game and is an amazing manager - one of the all time great managers. Look what he achieved with Inter and Porto, to win the Champions League twice.
"I fancied Inter Milan to win it last year just because he was there."
Tottenham take on West Ham at White Hart Lane knowing they will draw level with fourth-placed Chelsea with a win.
