No. Not in the modern sense anyway.
Until today we'd just about managed to bluff our way through, being the best of the rest and poaching managers and players from teams who might dare to see themselves as our equals. The appointment of Allardyce, and caving to both his financial demands and into accepting a Kopite legend and figure of Evertonian scorn as a member of our staff has put us firmly in the jumble of also ran clubs, no better than Southampton, Swansea and Stoke. How did it come to this.