Manchester United's early exit from the Champions League last season cost the English club almost 17 million euros in payments from UEFA compared with the previous year, figures released on Friday showed.
United, preparing for a listing on the New York Stock Exchange, received 35.18 million euros in 2011-12 from UEFA as their share of Champions League TV and sponsorship income, European soccer's governing body said.
United received a further 1.25 million euros from playing two rounds of the Europa League, the less lucrative European club competition which they joined after elimination from the Champions League.
United had been paid 53.2 million euros the previous year when they were runners-up to Barcelona in the Champions League.
The English club failed to qualify for the last 16 of the Champions League last season, the first time they had missed out on the knockout stages since 2006.
England's Chelsea were rewarded for their Champions' League victory in May with payments of 59.94 million euros.
Bayern Munich, beaten by Chelsea on their home ground in the final, earned 41.73 million euros.