Lee Darbyshire, a football finance specialist at Soccer Investor Ltd, insists that many in the press have grossly exaggerated the cost of Champions League failure.
Darbyshire said: "It is very hard to put a figure on what Liverpool will lose from missing out on the Champions League, but I don't think it will be anywhere near some of the numbers which have been bandied about.
"They made between £7m and £8m from their Uefa Cup campaign in the season they won it and a repeat would significantly erase that shortfall."
