Arsenal have already broken their record for European prize money in a single season after Tuesday’s last-16 win over FC Porto.

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LONDON, ENGLAND: Jorginho and Aaron Ramsdale of Arsenal celebrate victory in the penalty shoot out at full-time following the UEFA Champions League 2023/24 round of 16 second leg match between Arsenal FC and FC Porto at Emirates Stadium on March 12, 2024. (Photo by Julian Finney/Getty Images)

Lukasz Baczek reports that Arsenal have set a new club record for European prize money in a single season, after reaching the Champions League quarter-finals on Tuesday.

The Gunners are now guaranteed to bring in €91.3m (£78.1m) in prize money alone, broken down by Baczek as follows:

  • Starting fees: €15.6m (£13.4m)
  • UEFA coefficient 10-year ranking: €25m (£21.4m)
  • Market pool: €18.3m (£15.6m)
  • Group stage: €12.1m (£10.4m)
  • Last-16: €9.6m (£8.2m)
  • Quarter-final: €10.6m (£9.1m)

The numbers here are obviously significant, with David Raya’s two last-16 penalty saves bringing in enough money to pay off a third of his own purchase option, for example.

LONDON, ENGLAND - MARCH 12: The players of Arsenal celebrate as David Raya of Arsenal (not pictured) makes the match-winning save from the fourth penalty from Galeno of FC Porto (not pictured) in the penalty shoot out during the UEFA Champions League 2023/24 round of 16 second leg match between Arsenal FC and FC Porto at Emirates Stadium on March 12, 2024 in London, England. (Photo by Julian Finney/Getty Images)
LONDON, ENGLAND: The players of Arsenal celebrate as David Raya of Arsenal (not pictured) makes the match-winning save from the fourth penalty from Galeno of FC Porto (not pictured) in the penalty shoot out during the UEFA Champions League 2023/24 round of 16 second leg match between Arsenal FC and FC Porto at Emirates Stadium on March 12, 2024. (Photo by Julian Finney/Getty Images)

It’s been a long time since Arsenal have made it to the quarter-finals, having been eliminated at the last-16 stage every season between 2010/11 and 2016/17, before dropping out of the competition completely between 2017/18 and 2022/23.

The Gunners did make the quarter-finals and beyond in a number of other seasons in the past, notably appearing in the semi-final in 2008/09, and the final in 2005/06.

But Champions League money has significantly increased in the 15+ years since then, so even just making the quarter-finals earns you more money than getting to the final did in 2006.

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LONDON, ENGLAND: David Raya of Arsenal makes the match-winning save from the fourth penalty from Galeno of FC Porto in the penalty shoot out during the UEFA Champions League 2023/24 round of 16 second leg match between Arsenal FC and FC Porto at Emirates Stadium on March 12, 2024. (Photo by Shaun Botterill/Getty Images)

It’s worth highlighting again that this is just prize money. Arsenal will also receive plenty of money in sponsorship deals and TV income for playing in the Champions League this season.

If the Gunners are going to continue to push for the top trophies in the coming seasons, the money they bring in from strong runs in this competition will help enormously.