Manchester United and Tottenham Hotspur face off on Wednesday in the Europa League final in Bilbao, with both clubs desperate to salvage their tumultuous domestic campaigns. Beyond the silverware, the winner secures a crucial spot in next season’s Champions League — a prize that could determine the financial and competitive futures of these Premier League giants.
Both teams have endured some of their worst seasons in recent memory. United currently sit 16th in the league, while Tottenham are 17th, just a point behind, with only one league game remaining. Their poor league form has left them narrowly above the relegation-threatened trio of Ipswich, Leicester, and Southampton — a shocking position for clubs of their stature.
Losing the final would be a heavy blow, not just for pride but also financially. The absence of European football next season would severely dent their budgets. Former United captain Gary Neville warned that missing out on Champions League income would limit investment for the next two to three years, potentially trapping both clubs in a cycle of mediocrity.
United’s history underscores the gravity of the situation: they have only missed European qualification once in the past 35 years. Yet, their finances are under strain, with co-owner Jim Ratcliffe imposing deep budget cuts after acquiring a minority stake last year. The club recently announced plans for an additional 200 job cuts following 250 redundancies last year, with Ratcliffe noting the club would have faced bankruptcy by Christmas without these measures.
On the pitch, manager Ruben Amorim has struggled since his November appointment, winning just six out of 26 Premier League games. Amorim stressed that Champions League qualification is a higher priority than winning the Europa League trophy itself, seeing it as a faster route back to elite status.
Financially, winning the Europa League could bring an estimated £70 million to the victor, with Champions League campaigns potentially generating over £100 million through prize money, gate receipts, and sponsorships. This financial windfall is vital for clubs looking to rebuild and compete at the highest level.
Tottenham chairman Daniel Levy faces criticism for focusing on financial stability over trophy success, even as Spurs enjoy increased revenues from their new stadium and diversified events like concerts and boxing matches. Despite this, Tottenham have reported losses exceeding £100 million over the past two seasons. Levy has maintained a cautious stance, emphasizing fiscal responsibility: “We cannot spend what we do not have.”
With a 17-year trophy drought weighing heavily on Spurs, both clubs understand that losing Wednesday’s final risks a prolonged absence from Europe’s top competitions. The stakes could hardly be higher as they meet at San Mamés, where the winner takes not just a trophy but a lifeline for their ambitions and finances.
