The notion cannot be disputed.
Before the season started, Chelsea were odds-on favourites to retain their crown. That thinking has all but evaporated. Taking their place was Manchester City, who stormed from their starting blocks but returned to the pack. The primary winners from these happenings reside in north London, specifically its red half.
Arsene Wenger's side are outside first place by a margin of four in the goal-difference column. After a dozen matches, there appears every reason to consider the Gunners title challengers, and some might be so bold as to call them title favourites.