Here's how much failure to reach the Champions League cost Arsenal

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Here's how much failure to reach the Champions League cost Arsenal

Tim Ireland/AP/PA photowire service

Arsenal's failure to reach the UEFA Champion's League is set to have a major impact on the club's finances.

The club ended a 19 season run reaching the tournament as it finished its season in fifth place, one point behind Liverpool.

Figures from 2015/2016 show that the club netted €53.4m through its involvement in the competition.

The club took home €22.3m in prize money as it reached the last 16 - and an additional €31.1m in TV revenue.

It reached the same stage this year - losing to 10-2 on aggregate to German champions Bayern Munich - securing €25.7m in prize money. Ballooning TV rights fees mean its broadcasting revenue also rose, although an exact figure has not been disclosed.

The maximum Arsenal can win by going all the way in the competitive Europa League is €27m - leaving a minimum gap of some €25m in its base income from European football.

Business Insider notes that this swing would have been enough to cancel out its reported pre-tax annual profit of £12.6m recorded in 2016.

Last year Arsenal was the seventh richest club in the world according to the Deloitte money league.