Arsenal is paying the price for lack of success on the pitch.
Arsenal’s absence from the Champions League for the past few seasons has cost them dearly in terms of finances after the club revealed their latest figures.
According to Sky Sports, Arsenal has recently revealed losses of £27.1m.
Their failure to reach the latter phases of the Europa League this season means that Arsenal will miss out on the kind of prize money they earned when they reached the final of the competition last year.
Prize money for reaching the final or winning the competition is not the only money Arsenal would lose.
They will also lose money from extra broadcasting revenue and they will now also have to refund their fans for failing to progress in Europe.
Arsenal made a profit of £56.5m in the year ending 2018, however, when they published their latest financial numbers for the year ending 2019, the club suffered an after-tax loss of £27.1m.
Arsenal enjoyed an increase in football revenue from £388.2m to £394.7m and the club said investing in players’ wages affected their overall operating profits.
Arsenal will hope for a return to the Europa League at the end of this season or else they could be in for even more losses when their next figures are revealed.