Missing out on Champions League could cost Man City €126m

It is likely to cost Manchester City around €126 million if they miss out on Champions League qualification this season, according to a leading football finance expert.

Following Sunday’s 2-2 home draw with Arsenal, City are in danger of finishing outside the Barclays Premier League top four.

Manuel Pellegrini’s fourth-placed side, with only one fixture left to play, sit two points clear of fifth-placed Manchester United, who have a game in hand over them.