Manchester City and Liverpool have reportedly out-earned Arsenal in the Champions League this season, despite the Gunners' superior league phase performance.
Analysis by the respected Swiss Ramble football finance blog reveals Mikel Arteta’s side, who stormed into the last 16, have accumulated slightly less than their Premier League counterparts.
Arsenal topped the league phase table, while Liverpool finished third and City eighth – the lowest automatic qualification spot.
Despite this, City and the Reds have each earned 97 million euros (£84m) to date, compared to Arsenal’s 96 million euros (£83.1m). This disparity is primarily due to City and Liverpool’s stronger European records over the past decade.
All 36 clubs receive an initial 18.6 million euro (£16.1m) starting fee. Performance-based prize money, 37.5 per cent of UEFA’s total distribution, is then added for wins, draws, table position, and last-16 qualification – the latter alone worth 11 million euros (£9.5m).
Unsurprisingly, Arsenal led this category with 40.6 million euros (£35.1m), ahead of Liverpool’s 35.8 million euros (£31m) and City’s 32.9 million euros (£28.5m).
However, Arsenal lagged in the ‘value pillar’ section, which constitutes 35 per cent of the total prize pot.
This component ranks clubs based on their country’s media market value and individual European performances over the last five and 10 years, using UEFA’s coefficient rankings.
Swiss Ramble’s figures show City as the top English earner in this segment with 45 million euros (£39m), followed by Liverpool’s 43 million euros (£37.2m), and Arsenal’s 37 million euros (£32m).
Elsewhere, Chelsea’s total Champions League earnings so far are estimated at 92 million euros (£79.6m), with Tottenham’s at 84 million euros (£72.7m).
Newcastle United’s earnings stand significantly lower at 54 million euros (£46.7m), largely due to their lower coefficient ranking and needing to navigate a play-off to reach the last 16.
Across all metrics, Bayern Munich currently leads as the highest earner, having secured 100 million euros (£86.6m).
Significant prize money remains available, with the eventual Champions League winner set to receive 57.5 million euros (£49.8m) if they also claim the Super Cup in August.
Progressively smaller amounts will be awarded to finalists, semi-finalists, and quarter-finalists, keeping financial stakes high.
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