Liverpool made a meagre amount compared to participating in the Champions League.

The ambition of winning the Europa League is over. The dream of an almighty party in Dublin is no more.

In truth, Liverpool fans knew they wouldn’t be having an Irish fiesta a week ago after a damaging 3-0 loss against Atalanta at Anfield. The quarter-final tie was virtually over at the halfway stage. Mo Salah’s penalty might have given the Reds an early lifeline in the reverse clash in Bergamo but that was as good as it got.

There will be no Europa League trophy for Jurgen Klopp before he departs as Liverpool manager in the summer. It’s the only major piece of silverware that has eluded him in his eight-and-a-half years in the driving seat.

Yet, in truth, Liverpool will be hoping this was just a dalliance with the Europa League. A brief fling before taking up their spot among the elite once again.

The Reds will return to the Champions League next season barring any capitulation in their remaining six Premier League fixtures.

Supporters would have enjoyed travelling to new stadia such as Atalanta, Royal Union Saint-Gilloise and LASK. But they will yearn for appearances at the likes of the Nou Camp, Allianz Arena and Santiago Bernabeu on a regular basis again. Klopp has restored the club’s place back among the very best outfits on the continent. A sixth European Cup was gleaned in 2019 while there have been two other appearances in the final.

And in terms of Liverpool's accounts, they too will be desperate to be back in the premier competition. The Champions League is the richest club competition in the world. When it comes to finances, there is no comparison.

Even after reaching only the last 16 last season, the Reds still accrued €67.7 million in prize money. When they reached the final in 2021-22 a whopping €104.7 million.

However, Liverpool’s balance sheet is set to take a significant hit. Throughout the competition, they earned only €14.24 million - more than €50 million less than last term.

The Reds received a €3.4 million participation fee for being in the Europa League. Then winning four games in Group A landed the club €2.52 million along with an additional €1.1 million for finishing top. A spot in the last 16 earned Liverpool €1.2 million and reaching the quarter-finals was an additional €1.8 million. What’s more, the Reds’ 10-year coefficient ranking, which was No.1 in the tournament, landed them €4.22 million.

In Liverpool’s accounts for 2022-23, they recorded a pre-tax loss of £9 million. A reason was down to media revenue and match-day revenue dropping after an early exit from the Champions League. Rubbing shoulders with the likes of Real Madrid, Barcelona and Bayern Munich will be crucial for the Reds.