Yes and they haven’t left the top flight since.
To me it is a football scandal that wasn’t matched until MK Dons was formed.
All about money. Arsenal had recently moved from their home in Woolwich (The Woolwich Arsenal) to North of the river to Highbury. They spent a small fortune on the ground and started to attract far bigger crowds than they had in their old home.
Despite the money and the crowds they only finished sixth when it was two that went up. After the war the first division expanded and there was a vote for who should get the second extra place. Arsenal’s owner, a Conservative MP built a case based upon there already being enough northern and midland teams in the top flight carried the day. Never relegated.
The original Franchise club. Which is why our two notable cup successes against them were a victory for everything that is right and just.