In the 1930s, Arsenal were the dominant side of England, winning five league championships and two FA Cups. Their fortunes waned, but the club soon enjoyed infrequent periods of success, including Inter-Cities Fairs Cup triumph and a first league and cup double in the 1970s. During the late 1980s, Arsenal had built a side that threatened Liverpool's league dominance, and performed greatly in cup competitions. The club played an active role in the formation of the Premier League in 1992, and two doubles followed in 1998 and 2002. Arsenal made league history in 2003–04 when they became the first team in a 38-game season to go unbeaten. In the 2000s, Arsenal were finalists in both the UEFA Cup and UEFA Champions League, and have since equalled Real Madrid's record for most consecutive seasons in the latter competition.