Manchester United and Tottenham Hotspur head into Wednesday’s Europa League final in Bilbao with more than just silverware at stake. A place in next season’s Champions League and the significant financial rewards that come with it could rescue what has been a disastrous campaign for both Premier League giants.
United currently sit 16th in the league table, with Spurs faring slightly worse in 17th, just one point behind. With only one domestic game remaining, the two clubs have endured their worst seasons of the Premier League era. Avoiding relegation has only been possible thanks to the struggles of Ipswich, Leicester, and Southampton.
For the winner of the final, qualification for the Champions League could offer a crucial financial reprieve. The loser, however, faces a bleak outlook: missing out on European competition altogether could severely impact budgets and long-term planning.
“This result could shape the next two or three years for both clubs,” said former Manchester United captain Gary Neville. “They need Champions League revenue to invest in their squads. Without it, there’s a real risk they fall further behind.”
Manchester United, who have failed to qualify for European football just once in the past 35 years, are already dealing with cost-cutting measures under new co-owner Sir Jim Ratcliffe. The club announced 200 more redundancies this year, after cutting 250 jobs last season. Ratcliffe defended the cuts, claiming that without them, United would have “run out of money by Christmas.”
In addition to strengthening their squad, United are planning a £2 billion redevelopment project, including a proposed 100,000-capacity stadium, underlining the need for continued cash flow.
Manager Ruben Amorim, appointed in November, has managed just six wins in 26 league games. Despite the trophy on offer, Amorim is clear about what matters most. “The Champions League is more important,” he said. “It’s the best way to accelerate our return to the top.”
Estimates suggest that victory on Wednesday could be worth up to £70 million, with last season’s Champions League group stage earning United £52 million. A revamped European competition format has since further increased the number of fixtures and associated prize money.
“A strong Champions League campaign can now bring in over £100 million,” football finance expert Kieran Maguire told the BBC. “When you factor in gate receipts, sponsorship bonuses, and prize money, the financial impact is enormous.”
Tottenham, meanwhile, are chasing their first trophy in 17 years. Despite opening a state-of-the-art stadium that has driven commercial growth from concerts to boxing events, Spurs have posted losses of over £100 million across the last two seasons. Club chairman Daniel Levy, often criticized for prioritizing financial prudence over on-pitch success, emphasized fiscal responsibility in March, stating: “We cannot spend what we do not have.”
Regardless of history or stature, the stakes couldn’t be higher for either club. Defeat on Wednesday could mean a long and difficult road back to Europe’s elite stage.
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