Liverpool are currently outside of the Champions League qualification spots, and their recent financial accounts underline the brutal 73% reality of why they cannot afford to miss out.
Arne Slot‘s side are currently sixth in the Premier League table, behind fourth-placed Man United by three points and fifth-placed Chelsea on goal difference with 11 games to go.
Champions League vs. Europa League Revenue Gap: A quick look
• Massive Deficit: A drop from the Champions League to the Europa League costs Liverpool roughly £65.4m in UEFA revenue alone.
• Revenue Reality: Despite an early exit last term, the Reds banked £88.9m in the CL-compared to just £23.5m in their previous Europa campaign.
• Transfer Impact: Arne Slot admitted the disparity has an “enormous impact” on summer recruitment and how the club is run.
For the second successive season, the league’s top five are expected to guarantee Champions League football next season, which boosts Liverpool’s chances after a turbulent campaign.
“If we don’t have Champions League football it has definitely not been an acceptable season,” Slot declared earlier this month, and he’s right. It is the bare minimum.
And the difference between dining at the top table and qualifying for the Europa League is stark, as a recent UEFA report made clear.
The £65.4m financial gap between Champions League and Europa League
MARSEILLE, FRANCE - Wednesday, January 21, 2026: Liverpool's Dominik Szoboszlai walks out before the UEFA Champions League match between Olympique de Marseille and Liverpool FC at the Stade Vélodrome. Liverpool won 3-0. (Photo by David Rawcliffe/Propaganda)
UEFA released their financial report on Thursday, and it highlighted a staggering disparity in revenue for Liverpool’s recent participation in the Champions League and Europa League.
After Jurgen Klopp guided the club back to the top-tier of European football, Slot took over and led the Reds to a first-place finish in the league phase in 2024/25, only to be knocked out in the last 16.
Despite an early exit, the club netted €102 million (£88.9m) in total revenue for competing in UEFA competition, the eighth-most of any side. Arsenal were the only English side to rake in more.
In stark contrast, the single season Liverpool spent in the Europa League generated merely €27 million (£23.53m).
Competition Tier Total Revenue % Change
Champions League (2024/25) £88.9m —
Europa League (2023/24) £23.5m -73%
That represents a 73 percent decrease in revenue between Liverpool competing at the top compared to dropping into the second-tier European competition.
It is worth noting that the new format across European competitions has seen some improvement on the revenue potential in the Europa League, but the jump is still far too significant.
For example, Man City were knocked out of the Champions League in the playoff round last season but still banked €85 million (£74m), with broadcast, commercial and matchday revenue all enhanced.
All to say, even if a club experiences a poor Champions League season, it significantly dwarfs an extended run in the Europa League, which will not be lost on supporters, Slot or the club.
Why Arne Slot is right to be concerned about Champions League qualification
NOTTINGHAM, ENGLAND - Sunday, February 22, 2026: Liverpool's head coach Arne Slot on the pitch before the FA Premier League match between Nottingham Forest FC and Liverpool FC at the City Ground. (Photo by David Rawcliffe/Propaganda)
Liverpool’s season hinges on their final position in the Premier League table and any silverware they can lift, as does Slot’s future, you expect.
The head coach recently took some criticism for clumsily framing the impact of missing out on the Champions League, saying: “When I arrived here we could only sign Federico Chiesa and that was after a Europa League season.
“So, that does have an enormous impact on the way this club is run, that is clear. So, we are completely aware and I am completely aware of that.”
It was at odds with Richard Hughes‘ explanation of the quiet first transfer window relating to a desire to take stock of the squad before investing in the head coach’s image, but the point remains.
LONDON, ENGLAND - Saturday, August 10, 2024: The UEFA Champions League trophy. General. (Photo by David Rawcliffe/Propaganda)
Liverpool operate under a self-sustaining model and the revenue obtained via UEFA and subsequent commercial deals outside of their jurisdiction all take a hit when a club does not dine at the top table.
Despite spending heavily last summer, another big outlay is needed to address the glaring weaknesses throughout the squad, and the guarantee of Champions League funds is hugely significant to that.
Liverpool have 11 games in the Premier League to ensure they continue to build from a position of financial strength, or a potential seven in the Champions League to guarantee a second successive season in UEFA’s flagship competition.
There are two roads that lead to the Champions League, Slot and Co. have to ensure they take at least one!