Arsenal and Manchester City’s disappointing exits from the Champions League quarter-finals will have cost both clubs up to €32.5m (£28m) each in prize money.
And by losing to Bayern Munich and Real Madrid respectively they will also have missed another couple of million in additional revenue from ticket and merchandise sales.
The four quarter-final winners - also featuring Paris Saint-Germain and Borussia Dortmund - have earned €12.5m (£10.8m) from UEFA’s prize pool. And the finalists are set to make €15.5m each with the eventual winners getting another €4.5m (£3.9m).
While Mikel Arteta and Pep Guardiola reflect on what might have been, their clubs’ bank balances have taken a significant blow.
Last year’s champions City still made €87m (£75m) from their run to the last eight, with Arsenal banking €74m (£63.8m).
Liverpool and West Ham also bowed out of the Europa League on Thursday night, leaving Aston Villa as the sole Premier League team remaining in continental competition - they will face Greek giants Olympiakos in the last four of the Conference League.
Among the other English teams who were in European action, Manchester United made €48m (£41.4m) from a dismal Champions League campaign that ended in the group stage and Newcastle's coffers were boosted by only €25m (£21.5m) because they had a lower coefficient.
Liverpool made €14.6m (£12.6m), West Ham €13.8m (£11.9m) and Europa League debutants Brighton boosted their coffers to the tune of €10.9m (£9.4m). Villa have made €10.4m (£9m) because the Conference League prize money is miniscule compared to the main competition.
City will look to dust themselves down after losing on penalties to Real Madrid when they collide with Chelsea in the first FA Cup semi-final on Saturday evening. But Erling Haaland is a doubt having come off midweek with an injury.
Arsenal, meanwhile, visit Wolves tonight knowing that a win would move them to the Premier League summit as City focus on Cup action but their meek exit to Harry Kane's Bayern has been heavily criticised.