Something had to give in this collision of two teams with, respectively, the best attacking and defensive records in this season’s Prem. On a cold, clear afternoon in north London it was Exter, the league’s most resilient operators, who prevailed in a see-sawing contest when the outcome remained up for grabs right until the end.

Only in the closing seconds, as Henry Slade picked up a loose ball to sprint away for the bonus point score that elevated Chiefs back to the top of the table – at least for 24 hours – could the visitors celebrate their first win on this ground for eight years. They deserved it, too, battling back from 24-13 down helped by two second-half tries inside six minutes from the industrious Greg Fisilau.

With Dafydd Jenkins also outstanding and Olly Woodburn contributing mightily at full-back, Exeter certainly finished the stronger team. Saracens had started the day with the most tries and points in the league and added another four tries to their tally, with Tom Willis outstanding. But even another two tries from the increasingly prolific Noah Caluori could not save them here with Owen Farrell missing a potentially match-turning late penalty before Slade’s coup de grâce.

It made for stirring entertainment and will confirm the belief of Exeter’s director of rugby, Rob Baxter, that his squad are heading in the right direction. He says he can sense the “foundations of a good side” emerging from the rubble of last season’s disappointing campaign and a revived appetite for the fight was again evident.

“We’ve got a fantastic spirit, haven’t we?” said a delighted Baxter, also praising the impact of the outstanding Wallaby centre Len Ikitau. “What you can say is that we’re a team that never goes away. The squad is also the best balanced it’s been for a number of years.”

Saracens, even so, will be kicking themselves having enjoyed a storming start. Slade had a hopeful long pass intercepted by a flying Caluori and Sarries soon had a second try on the board after a neat little blindside move worked Max Malins over in the left corner.

With Willis a constant menace on his 50th Saracens appearance and the penalty count mounting, the Chiefs were further discouraged when an apparent close-range score for their Georgian prop Bachuki Tchumbadze was chalked off because of a dangerous clear-out from Tom Hooper, which earned the flanker a yellow card.

It was a sizeable bonus, therefore, when Chiefs collected 10 unanswered points while down to 14 players. A Slade penalty had already trimmed the deficit when Caluori fumbled a high ball that then ricocheted off the chin of the Exeter debutant Campbell Ridl and bounced loose for the winger to send Stephen Varney clear.

The question was whether the character Baxter has been trying to rebuild would be sufficient to preserve their 13-12 advantage. Initially, it was more a case of Saracens stepping things up a gear, helped by a 44th-minute penalty try awarded when Ridl, the last defender, was guilty of a knock on with Caluori lurking outside.

With an accompanying yellow card and the simultaneous arrival of a new home front row, Exeter were further discomforted by a fourth Sarries try, again finished by the athletic Caluori, despite claims of a midfield knock-on in the buildup. From 11 points down something special was going to be required for the Chiefs to crowbar their way back into contention but, remarkably, they did so courtesy of Fisilau’s quick-fire double and the classy Slade’s seasonal encore.

It leaves both sides with plenty to play for in 2026 with the top of the table still highly competitive. Then again a league with 10 teams and no relegation can not afford anything other than a frantic battle for the playoffs.

As Baxter acknowledges, there is also an increasing realisation across the league that there need to be more clubs involved from a financial perspective. “The optimum number in the Prem is rising because clubs are seeing they could do with more home games. The finance comes first at the moment, because it has to for all of us.”

Welcome to club rugby’s festive reality: Christmas is coming and the goose is getting thinner.