Real Madrid have missed out on a significant financial gain after failing to make the final of the UEFA Champions League.

Manchester City dealt a fatal blow to Real Madrid's European title defence with a resounding 4-0 victory at the Etihad Stadium on Wednesday, securing their spot in the final next month.

The loss will have financial implications for Real Madrid, who would have earned a significant sum of €15.5m had they progressed to the final and faced Inter.

Additionally, winning the tournament would have secured them an additional €4.5m.

Nevertheless, despite missing out on the final, Real Madrid have enjoyed financial success throughout their campaign in the Champions League. Their run to the semi-finals has already earned them just over €60m, which could help them fund a move for Jude Bellingham - 90min understands the Borussia Dortmund midfielder has agreed personal terms with Los Blancos.

In the aftermath of Wednesday's defeat, there has been considerable speculation surrounding the future of Real Madrid coach Carlo Ancelotti, who has continually been linked to the Brazil job.

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Despite his team's inability to retain both La Liga and the Champions League this season, the Italian remains optimistic about continuing in his role for next term.

"It's been a good season. There are four games to go and we have to give it our best shot. Hopefully we can finish well. Reaching a Champions League semi-final is a success because only four teams can reach it. Losing a sem-final can happen," he said after the match.

On whether he would stay on as Real Madrid manager, he added: "The club president was quite clear 15 days ago. So nobody has any doubt. What the president tells me privately, I'm not going to say here."

This article was originally published on 90min as Real Madrid's financial setback following Champions League exit.