Arsenal chief executive Ivan Gazidis believes the Gunners will be in the title race right to the end, despite slipping nine points behind league leaders Chelsea last weekend.
After slipping to consecutive 2-1 defeats at Everton and Manchester City, Arsene Wenger's men have fallen to fourth, just one point above local rivals Tottenham.
But writing to shareholders in the club's quarterly report, Gazidis said he fully expects the team to recover their form.
"We have made an encouraging start to the season but are obviously hugely disappointed after our two recent results on the road at Everton and Manchester City," wrote Gazidis.
"That said, I am confident the squad will bounce back strongly and we have the chance to get back on track over the busy Christmas period.
"The race for the Premier League will go right to the end with several competing for the title. We are in that group so we should all stay positive, get behind the team and look forward to more successes in 2017."
Shareholders were also updated on the redevelopment of Arsenal's training and academy facilities.
The club is expanding its London Colney training ground in order to build extra facilities for both its strength and conditioning department and data analysis teams.
"Off the pitch, we are nearing completion of the first major phase of work at our Colney training ground while the transformation of our Hale End Academy is almost complete," said Sir Chips.
"These are hugely important projects which will give us some of the best facilities in the game. Coupled with our growth in expertise across every aspect of player development, it means we are well placed for the future.
"On the commercial front we continue to make progress. Our partnerships with Emirates and Puma go from strength to strength and we now have 31 partners around the world."