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Arsenal chief executive says club can still thrive financially without Champions League football

Arsenal chief executive Ivan Gazidis today claimed that the north London club could cope well with the financial blow of failing to qualify for the Champions League.

Gazidis said that it would be “foolish” for any club to rely on revenue from the Champions League, which earned Arsenal £26 million in Uefa handouts when they reached the last 16 last season, and £45m for runners-up Manchester United.

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