Liverpool count cost of FA Cup exit

(GETTY IMAGES)

Liverpool's FA Cup failure will cost them a potential £8m in lost income but analysts believe the loss of prestige will be even more damaging.

Last season's finalists Chelsea and Everton earned £5m and £4m respectively from the competition in TV and prize money plus around £3m in matchday takings.

Liverpool's defeat by Reading compounds the club's financial problems after they were also knocked out of the Champions League in the group stage.

Football finance expert Professor Simon Chadwick, head of sports business at Coventry University, warned that the real catastrophe would be failing to qualify for next season's Champions League.

Chadwick said: "The FA Cup is not the biggest earner for clubs but it is still very important financially and commercially - £5million for the likes of Portsmouth would be very helpful and you can build a commercial strategy around a cup run or final appearances in terms of shirt sales and corporate boxes.

"More importantly, and given where the FA Cup is broadcast, it can affect a club's global aspirations.

"Winning the FA Cup marks you out as being successful and people in China, India and Malaysia notice you, and clubs are finding the overseas market a much tougher nut to crack than they originally envisaged.

"Going out of the FA Cup is only one small part of a much bigger picture, of which the main part if making the Champions League group phase.

"But in terms of sending the right signals, this is the last thing Liverpool needed."

Liverpool's managing director Christian Purslow claims the club are hopeful of securing £100million in new investment before next season but admits "the devil is in the detail".