Gunners cash in on Champions League

ARSENAL edged out Manchester United in last year’s Champions League cash stakes, despite not reaching the quarter-finals.

Despite earning an extra £1.7million for reaching the last eight, United still lagged behind their English rivals when it came to the overall sum received.

The Old Trafford giants pulled in just over £14.1m from their European exploits but Arsenal netted over £14.5m due to a significantly greater 'market pool' value.

The 'market pool' earnings are calculated in part on the previous season's domestic results when Arsenal won the title as well

as how much national TV companies pay for broadcast rights. That gave Arsenal £9.2m in contrast to United's £6.4m.

Newcastle's run to the second group phase saw them rake in £10.8m while Liverpool, eliminated in the first phase, earned only £9.1m.

AC Milan earned £20.4m as they finished the previous season fourth in Serie A while Juve won the title.