Arsenal stand to lose out on up to €85m (£72m) next season after falling short of Champions League qualification.
Mikel Arteta's team may have closed out their campaign with a 5-1 home win over Everton yesterday but defeats to Newcastle United and neighbours Tottenham Hotspur before that cost them a return to the club game's premier competition. And the financial repercussions are severe as the money to be earned in the Europa League pales in comparison.
To put the gap into perspective Real Madrid, who face Liverpool in Saturday’s Champions League final, have already made €115m (£97.6m) in prize money this season while Europa League champions Eintracht Frankfurt made €20m (£17m).