Liverpool are set to miss out on significant prize money as a result of finishing only 5th in the Premier League.

The Reds were pipped by Manchester United to fourth spot, with the Red Devils beating Chelsea on Thursday to seal the outcome.

While the Red Devils and Newcastle can still contest who finishes third or fourth, they are both guaranteed a top four spot.

Per The Mirror, it means that Liverpool will miss out on £50 million in prize money and participation fees as a result of losing a Champions League spot.

The Reds will instead take part in the Europa League, which has far less prize money involved.

Liverpool fans will be hoping they can significantly strengthen their squad and get back into Europe's premier club competition in a year's time.