The recent Champions League exits of both Arsenal and Manchester City have resulted in significant financial losses for the clubs.

Each team stands to lose up to €32.5 million (£28 million) in prize money as a result.

Arsenal's defeat at the hands of Bayern Munich, coupled with Manchester City's elimination by Real Madrid after a penalty shoot-out, has dealt a financial blow to both clubs. These losses extend beyond prize money, affecting revenue streams from ticket sales and merchandise.

Meanwhile, the four quarter-final winners – Paris Saint-Germain, Borussia Dortmund, and others – stand to gain €12.5 million (£10.8 million) each from UEFA's prize pool. Looking ahead, the finalists are poised to receive €15.5 million each, with the ultimate winners pocketing an additional €4.5 million (£3.9 million).

Although Manchester City earned €87 million (£75 million) from their previous year's run to the last eight, and Arsenal secured €74 million (£63.8 million), their recent exits underscore the financial implications of falling short in the prestigious tournament.