LONDON –

The jury is out on whether this is the worst or potentially the most exciting season in the 22-year history of the Premier League.

With one-third of the season played, few, if anyone, would argue that there is only one truly outstanding team — Chelsea, which is unbeaten in 21 games and rising.

The Blues have played by far the most outstanding football, rarely looking like drawing let alone losing. They are simply the best in every respect.

Jose Mourinho, the best coach, has a squad rich in talent with the best striker (Diego Costa), the best attacking midfielder (Eden Hazard by a short head from Cesc Fabregas), the best defensive midfielder (Nemanja Matic), the best central defensive partnership (John Terry and Gary Cahill) and the best goalkeeper (Thibaut Courtois). For good measure, in left-back Cesar Azpiliceuta, Chelsea has the player described by Gary Neville and Jamie Carragher as "the best defender in the Premier League."

The bad news for the chasing pack is that all the signs are that Chelsea is going to romp away with the title virtually unchallenged. Those also expected to be in the mix — Manchester City, Liverpool, Arsenal and maybe a Manchester United revitalized by Louis van Gaal — have underachieved and look incapable of giving Mourinho sleepless nights.

City almost defied logic in coming from 1-2 down to beat Bayern Munich 3-2 having been comprehensively outplayed by the 10-man Bundesliga leaders. Sergio Aguero's stunning hat trick meant he had scored 18 of the 25 goals scored by City when he has been in the side. There may be no such thing as a one-man team, but the Argentina striker. who has scored 90 goals in 138 games for City, including 14 in 22 Champions League matches, pushes this theory close.

However, despite Tuesday's high, there have been too many lows for City with big name stars such as Yaya Toure struggling for form.

The plus side of a poor Premier League is that unexpectedly, the second, third and fourth places are up for grabs with unlikely lads Southampton, Newcastle and West Ham impressing where the more established heavyweights are stumbling.

The most disappointing team has been Arsenal. This time last year it was top of the league with 28 points from 12 games. The Gunners are now eighth with 17 points from 12 matches, a drop-off of 11 points, the most in the league and a damning statistic.

Arsenal will not sack Arsene Wenger who is like a hero to the board, so if he is to pass on the baton next summer it will be his choice. The Frenchman has given Arsenal and English football so much, but it is clear he has taken the club as far as he can. His stubbornness in the transfer market to sign players that Arsenal so obviously needs — notably in defense and a midfield powerhouse — have cost Arsenal whose soft underbelly is ruthlessly and regularly exploited.

Though Arsenal is in the knockout stages of the Champions League for the 15th successive year, simply qualifying for Europe's premier club competition is now regarded as success for a club which no longer present a real challenge for the big prizes.

The second-biggest drop over the past year is by Liverpool, last season's runner-up, but which has 10 points fewer that at the same stage 12 months ago. It is playing like a team that has lost its focus and leadership while lacking a backbone of steel.

Liverpool has had a one-goal lead after 85 minutes six times this season and has lost that lead six times, too.

Obviously the loss of Luis Suarez to Barcelona and Daniel Sturridge to injury has not helped, but of the 18 players Brendan Rodgers has brought in over the past three seasons only Sturridge, Philippe Coutinho and Joe Allen have been significant successes.

For the 2-2 draw in Bulgaria against Ludogorets, loan signing Javier Manquillo and Rickie Lambert were the only summer transfers to start; Adam Lalana, Dejan Lovren and Emre Can were £110 million-worth of unused subs.

Yet because of the dumbing down of the Premier League, Arsenal and Liverpool are only two and four points, respectively, off a Champions League place, though the Merseysiders are also just four points away from the relegation places. The gap between Manchester United in fourth place and Leicester, which is 18th, is nine points — the equivalent of three wins.

In other 20-club leagues, the comparable gap in Spain and France is 14 points, in Italy it is 13. The Premier League is the Concertina League.

There may be lies, damn lies and statistics, but heading into the 13th round of fixtures there appear to be some fairly safe bets.

Chelsea will be the champion — one bookmaker has already paid out on the Blues winning the title — while any three from Southampton, Manchester City, Manchester United, Newcastle, West Ham, Swansea, Everton, Spurs and yes, Arsenal and Liverpool — half the league — could finish in the top four.

Life is equally uncertain at the other end of the table and by Monday three points could cover the bottom eight clubs. It promises to be a winter of excitement for 19 clubs who will battle for a Champions League place or fight against relegation as Chelsea marches towards the title barely needing to look in its rear view mirror.

Christopher Davies was a longtime Premier League correspondent for the London Daily Telegraph.