Chelsea are now 11 points behind Man City and Man Utd, and if Arsenal beat Wolves today they will be in fifth.
“With City and United continuing to get the points they are getting at the moment, it’ll be difficult,” said Villas-Boas.
“That is the perspective we have to make at the moment. Difficult. Not impossible. But maybe the Premiership is over for us at the moment. There is always tension for you to get results in a massive club like this one, but you have to be real. You cannot live under false expectations when the gap is this big.”