Arsenal and Manchester City’s Champions League dreams were dashed this week, costing them dearly. Both clubs missed out on up to €32.5 million (£28 million) in prize money alone.
Arsenal fell short against Bayern Munich, losing 1-0 on aggregate after a 2-2 draw at home. Manchester City, meanwhile, were edged out by Real Madrid on penalties after a thrilling encounter.
The financial blow extends beyond prize money. Both teams will miss out on additional revenue generated by ticket sales and merchandise associated with deeper runs in the competition.
Meanwhile, the four teams that progressed to the Champions League semi-finals, including Paris Saint-Germain and Borussia Dortmund, received a €12.5 million (£10.8 million) boost from UEFA. Finalists are set to earn €15.5 million each, with the eventual winner taking home an additional €4.5 million (£3.9 million).
City’s exit is particularly stinging, considering they earned a significant €87 million (£75 million) last year for reaching the quarter-finals. Arsenal also benefitted from a deep run in 2023, banking €74 million (£63.8 million).