The staggering amount of money Manchester United will miss out on after losing the 2025 Europa League final has now been revealed. Wednesday night’s showdown at Bilbao’s San Mames Stadium was a last-chance saloon for the Red Devils - but a scrappy first-half goal from Brennan Johnson proved decisive, sinking United further as Tottenham walked away with glory.
Having already slipped to 16th in the Premier League after putting all their eggs in Europe, United will now miss out on any form of continental competition in the 2025/26 campaign for the first time since 2014. Competitively, this is a massive blow to the club’s ambitions of another rebuild, with the lack of Champions League football set to weaken their pull in the transfer market.
But perhaps even more troubling for Sir Jim Ratcliffe and the INEOS leadership is the financial fallout. The club’s new hierarchy has already been forced into a series of drastic cost-cutting measures in a bid to steady the books, and missing out on Europa League revenue will only worsen United’s already fragile financial position.
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The consequences could burden them for years to come
Manchester United co-owner Sir Jim Ratcliffe watching on from the stands
According to the Financial Times, Man United’s shares dropped by seven percent following Wednesday’s crushing Europa League final defeat in the Basque Country, wiping approximately £160 million off the club’s total value. The financial hit is being seen as a significant setback for both the Glazer family and Sir Jim Ratcliffe.
Since taking a controlling interest, Ratcliffe has already made sweeping changes - axing 250 staff members and discontinuing the club’s annual donations to a charity supporting former United players who played in less lucrative eras. These harsh cost-cutting measures were introduced after the club reported net losses exceeding £370 million in the five years leading up to June 2024.
The Daily Mail has also broken down further areas of financial loss stemming from the final. First, there's the direct difference in prize money - winners of the Europa League receive £10.95 million, while runners-up earn just £5.9 million, a gap of £5.05 million. Then there’s the missed opportunity to compete in the UEFA Super Cup, which offers between £3.4 million and £4.25 million depending on the result.
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United could be over £100m worse off than Tottenham by this time next year
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However, the most damaging loss comes from missing out on next season's Champions League. The club’s lowly league finish, combined with the Europa League loss, means no European football at all in 2025/26. That absence could prove incredibly costly. As football finance expert Kieran Maguire recently told BBC Sport*:* “A good season in the Champions League can be worth well over £100 million.”
"By the time you combine gate receipts, sponsor bonuses and the prize money available, the numbers involved are eye-watering."
Every club that reaches the Champions League league phase automatically receives £15.7 million, regardless of results. A win adds £1.8 million, and a draw earns £600,000, meaning an unbeaten league run could net an extra £14 million. Each league phase position is worth £230,000. This season, bottom-placed Young Boys earned that amount, while top-finishing Liverpool banked £8.3 million.
Teams finishing in the top eight also receive a £1.7 million bonus, with £850,000 for those placing ninth to 16th. Qualification for the last 16 adds £9.3 million. From there, the rewards escalate. See the table detailing knockout stage prize money below:
Champions League knockout stage prize money
Round
Quarter-finals
Semi-finals
Final
Winner
In pure prize money terms, if Tottenham have a perfect Super Cup and Champions League run, they'd be £103.9 million better off than Manchester United by June - without even factoring in matchday revenue or commercial boosts. The report found that, with the latter factors added into the mix, Tottenham could line their pockets with up to £148.6 million between now and next year.