Arsenal are no longer part of the Champions League after losing 3-2 on aggregate to Bayern Munich in the quarter-final.
Now that the Gunners' dream return to the elite competition is over, here is a look at what it cost in terms of prize money.
According to the Daily Mirror, Arsenal and Manchester City, who also lost to Real Madrid, have both let go of up to €32.5 million prize money each.
They also lose the millions in revenue that could have been generated by ticket sales and merchandising had they advanced to the semi-final.
The four semi-finalists will earn €12.5 million each; the two making it to the final will pocket an additional €15.5 million.
The winner will get to add €4.5 million to their kitty, making for a significant financial boost.
However, Arsenal are now left to rue the missed opportunity and focus on winning the Premier League after bowing out in the final stages last year.
