Premier League strugglers earned more Champions League money than Madrid

The Foxes were competing in the Champions League for the first time in their history after their miraculous 2015/16 Premier League title win, and they reached the quarter-finals before being knocked out by Atletico Madrid.

Leicester went further than any of the other English sides during last year's competition, and they received the second highest amount out of anyone, with £73.2m, compared to Real Madrid's £72.58m.

Real won their third Champions League title in four years by defeating Juventus 4-1 in the final in Cardiff last June, but the Italian champions topped the prize-money table with £98.92m.

The reason for this is that British and Italian TV deals were more valuable than the Spanish ones, and they were shared between fewer clubs, with Spain having five clubs in the competition.

UEFA awarded an initial fee of £11.38m to each of the 32 teams in the Champions League, plus bonuses for results and a share of TV rights money, known as the market pool.

This formula gave clubs a share of broadcast deals from their own country, and awarded domestic champions more than teams placed from second to fourth.