Arsenal chief Ivan Gazidis insists their ambitions are bigger than finishing in the top four.
Under manager Arsene Wenger, the Gunners reached the 2006 final but have now been knocked out in the round of 16 for five successive seasons.
"When we talk about the destination, it's not winning a Champions League, its making fans proud," he said.
"It's about making the people at the football club proud of what we do and how we do it."