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Arsenal take sponsorship hit

Arsenal's exit from the Europa League will cost the club £9m in lost sponsorship revenue next season. Arsenal's kit and sponsorship deals with Puma and Emirates contain penalty clauses of 15 per cent if the club is not involved in the Champions League.

Both Puma and Emirates pay Arsenal £30m a year to have their logos on the club shirt, but that is contingent on them taking part in the Champions League.

Arsenal will also suffer as a result of reduced broadcast and ticketing revenue in the Europa League, which combined with the commercial loss led to their operating profits falling by more than 60 per cent last year. Arsenal's most recently published half year results to November 2017 showed that the club's income from football (excluding player trading) was down by £23.4m on the previous year with their absence from the Champions League the biggest factor.

Absence from the Champions League will make it more difficult to recruit a top drawer manager to replace Arsene Wenger and to attract world class players.

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