Champions League counts for less financially
Arsene Wenger argued in a weekend interview that the Champions League counts for less than it used to financially. He said, 'financially the Champions League does not have the impact any more that it had five or six years ago because of the influx of television money.'
Why, then, are teams competing so intensely for a top four place? In part it's a matter of prestige. A Champions League place also helps to attract and retain top players. But, on the downside, one needs a larger and higher quality squad which wipes out a lot of the financial benefits.