Tuesday, 6 March 2012

Champions League exit will not be financial disaster - but Arsenal must finish in top four to avoid one


Their European dreams will probably be over when Arsenal embark on their own version of Mission Impossible when AC Milan visit the Emirates in a seemingly unassailable position following a 4-0 win in Italy.

There is plenty of pride at stake for the hosts but Arsene Wenger’s players should be forgiven if they do not play as if their lives depend on a place in the quarter-finals because far more significant tests are looming.

Big games have been coming thick and fast for Arsenal of late but next Monday’s visit of Newcastle to the Emirates Stadium in the Premier League is already looking more important that this evening’s prestigious Champions League fixture.

They may have lost pride with their mauling by AC Milan at San Siro and there seems little chance of recovery barring a miracle but from a financial perspective Arsenal are well equipped to overcome the loss of revenue.

Manchester United earned £46 million on their way to the final that they lost to Barcelona last season at Wembley and, according to Uefa statistics, Arsenal will have already netted £22.5m for making it into the group phase.

Their place in the last 16 earned Arsenal £2.8m while quarter-finalists earn a further £2.8m and semi-finalists £3.6m. The Champions League victors receive £7.7m and runners-up £4.8m.

On top of that, each club receives a share of television money – Chelsea earned £23m last season - and as well as the profits from match-day operations there are long-term benefits that come with the global high-profile status of the Champions League, such as selling shirts in Asia.

However, according to football finance experts, it is regular participation in the Champions League that really counts, which is why Arsenal cannot afford to miss out on a top-four place in the Premier League when their turbulent campaign ends in May.

“It is definitely not the end of the world for Arsenal if they do end up getting knocked out by AC Milan,” Tom Cannon, professor of strategic development at the University of Liverpool’s Management School, told Goal.com.

“The big thing for Arsenal will be to try to overhaul Tottenham and get into third place because that guarantees a place in next season’s Champions League while whoever finishes fourth still has to negotiate a qualifying round.

“I would be very surprised if they had budgeted for going any further because you basically budget for what is realistic.

“Getting to the quarter-finals, the semi-finals and the final is a tougher ask than getting out of the group phase and Arsenal will have taken that into consideration.”

There may be doom and gloom around the Emirates if Milan ensure that club football's top prizes continue to elude their club unless Arsenal can stage the greatest comeback in Champions League history but only a season-ending injury to talismanic skipper Robin van Persie would create a truly catastrophic scenario.

They may have been out of their depth against the Serie A giants but they have now clocked up four wins on the spin in the Premier League and a victory over Newcastle will not only consolidate their grip on fourth spot but also intensify the pressure on third-placed Tottenham.

With the quest for silverware effectively over for another season, finishing in the top four will become the be-all and end-all for Arsenal and if they can ruin the aspirations of arch-rivals Spurs they will have extra cause for celebration.

Arsenal are already rolling in money having last month reported a huge rise in profits to £49.5m, following the sale of key players such as Samir Nasri and Cesc Fabregas.

Their tight fiscal policy means they have been struggling to hold on to their best players but failure to make it into the Champions League next season will mean that they will struggle to attract new talent as well.

Arsenal have successfully qualified for the Champions League for the last 15 seasons and a campaign without is unthinkable. That is why defeating Newcastle would prove to be far more important than beating AC Milan.

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