Liverpool and Manchester City topped the prize money tables from last season’s Champions League and Europa League competitions despite losing to Spanish opposition in the latter stages.
City earned £75.8million for reaching the semi-finals of the Champions League, £3.4m more than their conquerors Real Madrid, who went on to win a record 11th European crown.
European football’s governing body UEFA paid out £34.2m to Liverpool for their run to the Europa League final, £1.6m more than Sevilla earned for reaching the group stage of the Champions League and then winning the Europa League for a third straight season.
Spurs were the second biggest earners from the Europa League alone, receiving £18.9m, despite only reaching the last 16 of the competition, where they were beaten 5-1 over two legs by Borussia Dortmund.
After City and Real Madrid, Juventus were the third biggest earners from the Champions League with £69m in prize money, although they also lost in the last 16.
While Chelsea, who also fell at the first knockout hurdle, almost earned as much as runners-up Atletico Madrid with £62.5m in prize money.
England’s two other Champions League clubs last season, Arsenal and Manchester United, earned £48.3m and £34.4m respectively, although United received a further £3.4m for subsequently reaching the last 16 of the Europa League, where they lost to Liverpool.
Scottish champions Celtic earned £2.7m for losing in the play-off round before the Champions League group stage and a further £5.2m despite coming bottom of their Europa League group.
Across the Champions League, a record £1.2bn was shared between the 32 clubs that reached the group stage and the 10 teams who lost in the play-off round, while the Europa League’s pot of £370m was divvied up between 56 clubs.
As in previous European seasons, the secret to the British sides’ relatively large winnings can be explained by the size of the television market here.
The prize fund was divided on a 60/40 basis between fixed amounts paid to each club for progressing through the tournaments and a “market pool” which was shared between clubs from the same member association based on the proportion of that association’s contribution to the total pie - so clubs from large TV markets, such as England, have more money to share between them.
Half of the market pool money is based on the previous season’s league position, which last season meant that Chelsea took a big slice, and the other half for winning games in the competition.
This formula has annoyed clubs from smaller TV markets for years and last season’s 40 per cent share for the market pool was a reduction on the 55/45 split that had operated from 2012-15.
Both Juventus and Liverpool, however, both profited from another quirk of the market pool system in that their compatriot clubs did relatively poorly - particularly in Liverpool’s case, with West Ham and Southampton losing in the qualifying rounds - which meant there were fewer claimants for the national TV money.