Arsenal manager Mikel Arteta is in a very difficult position on transfers as a result of the shock exit from the Europa League earlier this week.
Arteta and Arsenal had won the first leg at Olympiacos 1-0 courtesy the goal from Alexandre Lacazette before the Greek club stunned the Gunners 2-1 at the end of extra time in the second leg at the Emirates Stadium to secure a place in the last 16 of the competition.
The early Europa League exit will definitely affect Arsenal financially according to The Sun.
Arsenal were paid around £40m for reaching the Europa League final in the last campaign but they will get just £15m for their last 32 appearance this season.
Despite the £40m financial outlay from the Europa League last season, Arsenal still suffered a £27m loss from the last financial year as revealed by the Gunners.
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Mikel Arteta has three major transfer targets namely RB Leipzig centre back Dayot Upamecano, Bayer Leverkusen defender Jonathan Tah and Ghent attack David Jonathan. His pursuit of the aforementioned transfer targets could be affected as a result of the sudden Europa League exit especially if his team fails to finish in the top five of the Premier League.
Arsenal have to finish in the top five to secure Champions League football and boost finances as a result. It was normally the top four teams but that will increase to top five after second-placed Manchester City were slammed with a European ban for two seasons.
Manchester City’s European ban has opened a window of opportunity for the team that finishes this season in fifth position. For now, Arteta and Arsenal are just four points off the top five spot presently occupied by rivals Manchester United.
The Gunners are seven points off Chelsea who are the fourth-placed team on the Premier League table.
