EURO FAILURE WILL HURT MY REBUILDING PLAN

MIKEL ARTETA has spelled out how failure to make the Champions League three seasons running has affected plans to overhaul his squad.

Last week Arsenal reported losses of £27million for the year ending May 2019, the first time they have been in the red since 2002. The financial picture is unlikely to improve with the Gunners failing to make the top four last season and off the pace in the Champions League qualification race this term.

Detailing how such a tailspin will affect his transfer dealings, Arteta said: “The damage caused by the club not being in the Champions League for a third season is really big. Financially the impact is enormous because the structure of this club is built to be in the Champions League. That’s the reality. Every player in the world wants to play Champions League and if you talk about having this option on the table, players are much more open to joining this club or to renewing their contract.”

Arteta (right) takes his side to League One Portsmouth tonight for a tricky FA Cup fifth-round tie.

“I will try to explain to the players how tough Portsmouth are going to be,” he said.