Arsenal's Europa League exit could lead to staggering $411m loss along with player exodus

Prior to the Europa League game against Olympiacos, Arsenal manager Mikel Arteta laid out the avenues through which Arsenal could secure survival in European football next season. Those avenues took a dramatic turn on Thursday night when Arsenal crashed out of the Europa League after a 1-2 defeat at home to Olympiacos. While the Aubameyang miss and the Europa League exit would have understandably left a bitter taste at the Emirates this week, the exit could also drastically impact the finances at Arsenal.

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Arsenal vs Olympiacos highlights: Arsenal revenue could plummet by $411 million after Aubameyang miss, Europa League exit

Premier League clubs have released their financial reports for the preceding financial year this week. While the Manchester clubs have faced financial troubles in recent years, Liverpool posted a record revenue earlier this week. When it comes to Arsenal, however, the revenue section could make for grim reading.

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Arsenal fans have had a fractured relationship with the Europa League since the UEL final last year. With the clubs in the Champions League collecting an increasing amount in revenue for their participation in the tournament, Arsenal’s revenue has fallen drastically with their Europa League participation. According to The Athletic, Arsenal’s revenue fell by £35 million (8%) from £423 million to £388 million in 2017-18, courtesy of their Europa League participation. For the 2018-19 season, Arsenal revealed that they received £37 million in revenue distribution from UEL participation, with Champions League clubs raking in £45-60 million over that season.

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Arsenal vs Olympiacos highlights: Aubameyang miss, Arsenal revenue loss could spell fire sale

Arsenal are currently ninth in the Premier League. While Mikel Arteta’s side still have an outside chance of qualifying for the Champions League, failure to do so will mean that the next possible year for the Gunners in the Champions League could be 2021. According to the projections posted above, this could lead to the club losing out on over £210 million ($411 million) in revenue due to their absence.

With the lack of Champions League football, a number of Arsenal stars could also be forced to rethink their future at the Emirates. This, in addition to the £210 million ($411 million) that will be missing from the Arsenal revenue section, could also force Arsenal to sell a number of their star players. The likes of Pierre-Emerick Aubameyang, Gabriel Martinelli, Bukayo Saka, Alexandre Lacazette and Matteo Guendouzi could be among the names that will attract interest from clubs in and out of England following the $411 million hole in Arsenal's revenue. The Aubameyang miss against Olympiacos, therefore, could prove to be costly for the Gunners in more ways than one. 

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