Arsenal may reportedly miss out on £70m as a result of their exit from the Europa League at the last-32 stage.

While the Gunners had eyed the competition as a way of qualifying for next season's Champions League, the Premier League outfit were dumped out of the competition by Olympiacos on Thursday night.

According to the Daily Star, Arsenal will now fail to bring in £30m revenue through ticket sales and prize money from an extended run in the competition.

The report adds that they will also miss out on a further £40m if they do not secure a place in the Europa League for the next campaign, something which would naturally harm Mikel Arteta's plans in the transfer market.

The future of Mesut Ozil is also said to remain a talking point behind the scenes, with the North London outfit preferring to part ways with the big earner.

However, the agent of the playmaker has indicated that the 31-year-old plans to see out his contract at the Emirates Stadium.