In many ways thats Southampton. But they don't have the name and international recognition so they can't keep their players.
Imagine what they could do if they had been allowed to keep Pochettino, Bale, Walcott, Shaw, Clyne, Schneiderlin, Lallana, Lovren, Oxlade-Chamberlain and so on .
The below may be tainted by my age, but this is how I see it:
The top tier is permanently Man U, Liverpool, Arsenal. They will always be massive even if they're shit.
Then there is Chelsea and Man City who have bought their way to the top tier and will probably stay there even if they become...