• Accounts published for year ending 31 May 2019
  • Chairman says this is Arsenal’s first loss since 2002

Arsenal have been left counting the cost of life outside the Champions League as the club’s latest accounts showed a £27.1m loss.

Arsenal went out of the Europa League to Olympiakos on Thursday, leaving them to face a further loss of potential prize money and broadcasting revenue as well as a rebate payment to season-ticket holders for fewer cup fixtures.

Related: 'It hurts': Arteta admits pain of Arsenal's Europa League exit against Olympiakos

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