The windfall Newcastle United will receive for beating Liverpool to the Champions League

Newcastle United will receive a significant financial boost when they return to the Champions League for the first time in over two decades.

The Magpies have exceeded all expectations this season by seeing off the challenges of Liverpool, Tottenham Hotspur and Brighton and Hove Albion to join champions Manchester City, Arsenal and Manchester United in qualifying for UEFA’s elite club competition.

Speaking after the draw with Leicester City that secured qualification, United manager Eddie Howe told Sky Sports: “It’s a big relief, actually, an amazing night to see the supporters. It’s just a general reaction to what we’ve achieved. It’s incredible. It’s been a great evening for us.

“It certainly wasn’t top four (aim for the season). I think you always hope, you always believe, and you have to dream. But we didn’t feel that we were ready for that. After last season’s battle with relegation, it was whether we could consolidate, and become a better team. The lads have been unbelievable for me this year. I can’t praise them enough. Their attitude, their mentality. It’s just been incredible.”

Newcastle rounded off their season at Chelsea on Sunday afternoon but preparations for a first tilt at the Champions League since the days of Sir Bobby Robson, Alan Shearer and Craig Bellamy were already well underway before the trip to Stamford Bridge.

United’s recruitment staff have been hard at work at home and around Europe as they look to boost Eddie Howe’s squad in preparation to face the increasingly hectic fixture schedule they will take on when the new season gets underway. And The Magpies hopes of attracting some high calibre additions will not only be boosted by their qualification for the Champions League, but also by the financial benefits that will come with it.

As per The Mirror, finishing in the top four means the Magpies will win at least £13.5m in Champions League prize money and that will provide them with a welcome boost as they continue to contend with UEFA’s Financial Fair Play regulations.

All teams who reach the group stage are paid an initial £13.5m while each group stage win is worth £2.4m with an additional £8.3m paid to clubs who reach the knockout stages. Teams are also paid coefficient payments, although Newcastle will miss out after not featuring in European competitions over the last decade.