On Wednesday night in Bilbao, there’s more on the line than a piece of silverware.
For Tottenham Hotspur and Manchester United, the Europa League final offers a shot at redemption, and a windfall that could exceed £100 million.
It’s not just a trophy on the line, but a way out of the wilderness for two clubs who’ve spent most of the season drifting, uncertain of who they are or where they’re going.
Tottenham, who have lost 21 Premier League matches this season, are desperate to add a trophy under Ange Postecoglou to use that as a clean-up of the mess.
Manchester United, themselves, are in a dire and messy situation as they have lost 18 games, and they need this win just to cling to relevance. The winner of this final will not only lift the trophy but also secure passage into next season’s UEFA Champions League, along with all the riches that accompany it.
And that, in this era of Financial Fair Play (FFP) scrutiny, bloated wage bills, and broadcast rights dependency, might be the most valuable reward of all.
A win in Bilbao could bring a financial haul upwards of £100 million when combining direct UEFA prize money, commercial bonuses, gate receipts, and most crucially, Champions League qualification.
Here’s the financial breakdown:
- UEFA Europa League winner’s prize: €8.6 million (approx. £7.4 million).
- Qualification for UEFA Super Cup: €3.5 million participation fee (approx. £3 million).
- Total Europa League run prize pot (group stage to final): Approx. £20–£22 million.
- Champions League Group Stage entry: Minimum guaranteed €15.64 million (approx. £13.4 million).
- Performance bonuses in the UCL: Up to €10.6 million for group stage wins/draws (approx. £9 million).
- UEFA Coefficient & Market Pool distribution: Up to €30–40 million depending on country/club position.
Altogether, the winning club could earn anywhere between £70–£100 million, especially if they progress past the UCL group stage next season.
This financial upside is especially vital for Manchester United. Despite earning record revenues of over £648 million in 2023, the club has posted pre-tax losses exceeding £250 million over the last three financial years. Under the new co-ownership of Sir Jim Ratcliffe’s INEOS, there’s a pressure to stabilise spending and requalify for Europe’s top-tier competition to maintain revenue growth and commercial appeal.
Tottenham’s case is different but just as urgent. Despite having the Premier League’s most state-of-the-art stadium and one of its largest matchday incomes, they remain trophy-less since 2008. Winning the Europa League would not only bank much-needed revenue but also enhance Postecoglou’s standing after a campaign that started with promise but tailed off into defensive chaos and fan frustration.
A Trophy or a Rebuild?
For Manchester United, victory may temporarily mask dysfunction, but it won’t cure it. Ruben Amorim’s side has been a disgrace in the league, yet, in Europe, they’ve found identity and spirit. Comeback against Lyon, the way they dispatched Athletic Bilbao 7-1 showcased a squad that still knows how to suffer and survive.
Amorim himself may need this win to avoid becoming a transitional footnote. Financially, Champions League qualification offers the INEOS sporting structure a stronger hand in the transfer market this summer. Gary Neville has already called for “six or seven signings” and the revenue from this final could fund a reasonable part of those.
Tottenham, meanwhile, arrive in Bilbao having already beaten United three times this season. But the squad has been decimated in recent weeks, with James Maddison, Dejan Kulusevski and Yves Bissouma all nursing injuries. Postecoglou has been clear that silverware is part of the job. “It’s not about validation,” he said earlier this week. “It’s about creating belief in what we’re doing.”
From a business standpoint, lifting the trophy would boost Tottenham’s brand, particularly for their sponsorship valuation. Their deal with AIA is set to expire soon, and competing in the Champions League enhances leverage for future commercial deals.
A Supercomputer’s Edge, But a Human Game
According to Opta’s supercomputer, Tottenham have a 50.3% chance of winning the final, marginally edging Manchester United’s 49.7%. But finals aren’t simulations. They’re battles of temperament, of strategy under pressure, of who panics less when it matters most.
Both clubs have points to prove. For United, it’s a chance to demonstrate that the INEOS rebuild has a foundation. For Tottenham, it’s an opportunity to stop being a punchline and start being a problem again.
And for both, it’s a financially transformative night.
The Bigger Picture: UEFA’s Shifting Revenue Model
This final also takes place in the context of UEFA’s revamped Champions League model, which will start in 2025/26. Under the new Swiss-style league format, the potential earnings will rise even higher, meaning that securing a ticket now is like buying in before the stock splits.
Analysts suggest that UCL group stage participants could earn up to €100 million from the new format even with moderate sporting success. That’s why this final carries weight far beyond May 2025.
In football terms, this is a last chance at redemption. In financial terms, it’s a launchpad, or a cliff edge. A win gives access to revenue streams that define seasons, squads, and sponsorships. A loss brings a summer of soul-searching.
It’s a final that could decide more than a trophy. It might decide the trajectory of the two clubs.
And in this era of profit-and-sustainability rules, wage-to-revenue ratios, and shareholder updates, £100 million isn’t just a reward, but a necessity.
