Europa League final offers financial lifeline to struggling Man Utd and Spurs

Manchester United and Tottenham Hotspur will look to rescue disastrous domestic campaigns when they meet in the Europa League final on Wednesday, 21 may, with a place in next season's Champions League offering not just prestige, but a much-needed financial boost.

Both clubs head to Bilbao battered by criticism and languishing in their worst positions since the Premier League began. With just one league fixture left, United sit 16th and Spurs are a point behind in 17th. Only the failures of relegated Ipswich, Leicester, and Southampton have spared them from a humiliating drop into the Championship.

The stakes in San Mamés are stark. The winner secures a return to European football's elite competition, while the loser faces a potentially long and painful rebuild, weighed down by financial uncertainty and dwindling investment prospects.

Former United captain Gary Neville underlined the significance of the final, warning: "It really does impact the next two or three years for both clubs. They need investment into their teams and if they don't get this Champions League money then there's going to be a lot less investment, which means they might not make the Champions League next season."

For United, the consequences would be particularly jarring. The club has qualified for European competition in all but one of the past 35 years. But with co-owner Sir Jim Ratcliffe enforcing widespread cost-cutting since acquiring a minority stake just over a year ago, the margin for error is narrowing.

After laying off 250 staff last year, United recently announced plans for a further 200 redundancies. Ratcliffe defended the cuts in March, stating the club would have "run out of money at Christmas" without such measures.

Meanwhile, grand visions remain in the pipeline. United's proposed £2 billion redevelopment of Old Trafford into a 100,000-seater stadium symbolises ambition – but will require significant funding at a time when on-pitch performance is collapsing.

Since taking over in November, manager Ruben Amorim has overseen just six wins in 26 league matches. Yet he insists that a Champions League place is more vital than silverware. "The best way to help us get to the top in a few years is the Champions League. It is not the title, the trophy. The most important thing is how this title could help us get back to the top faster."

The financial rewards on offer are transformative. Conservative estimates suggest Wednesday's winners could earn around £70 million. For comparison, United earned £52 million from last season's group-stage exit in the Champions League.

Changes to UEFA's competition structure from next season promise even greater riches. "A good season in the Champions League can be worth far in excess of £100 million," said football finance expert Kieran Maguire. "By the time you combine gate receipts, sponsor bonuses and the prize money available, the numbers involved are eye-watering."

For Spurs, the long wait for silverware – now stretching to 17 years – remains a sore point. Chairman Daniel Levy has faced mounting criticism from fans for favouring financial prudence over trophies, despite Tottenham's revenues growing significantly thanks to a state-of-the-art stadium and diversified income streams.

Concerts and boxing events have helped boost revenue, yet Spurs still posted losses of over £100 million across the past two seasons. "We cannot spend what we do not have," Levy said when releasing the club's financials in March.