Liverpool are in line for a €74m (£67.8m) windfall after reaching their first Champions League final for 11 years.
Arsenal, meanwhile, stand to receive around €40m (£35m) after being dumped out of the Europa League in the semi-finals last night by Atletico Madrid.
Jurgen Klopp's side could even earn as much as €78m should they beat reigning champions Real Madrid, who have triumphed in three of the last four competitions, in the Kiev final on 26 May.
Liverpool have already earned €49.7m in prize money payments – a new record for a British side in the competition – after becoming the first Premier League representative to reach European football's showpiece event since Chelsea lifted the trophy in 2012.
The Reds’ total payment could rise to €54.2m if they win the competition and, with an estimated €23.8m to come in TV money, it would see the Reds finish with €78m.
Chelsea are the only other Premier League club in the Champions League who will likely come away with more than €60m, despite exiting at the last 16 stage.
The Blues will earn around €61m (£53.8m) in total, putting them above Manchester City’s €59m (£52m), Tottenham’s €57m (£50.2m) and Manchester United’s €37m (£32.6m).
Governing body Uefa pays all clubs in the competition's group stage a flat performance fee of €12.7m, plus a further €1.5m in prize money for a win and €500,000 for a draw. A place in the last 16 is worth a further €6m, a quarter-final spot €6.5m and a place in the semi-finals an additional €7.5m.
With three wins and three draws in the group stage, Liverpool had already accumulated €38.7m in prize money but a place in the final is worth a further €11m while winning the competition outright adds €15m to the total bounty.
On top of prize money are broadcast rights payments, which are distributed to teams based on the value of their home country's television market.
Half of a country's TV pool – €143m for British representatives – is distributed to clubs by Uefa based on where they finished in their domestic league the previous season, while the other half is based on their progress in the competition.
Two other factors mean that the share of the pie is smaller than ever before for British teams. For the first time there were five Premier League representatives in the competition, thanks to Manchester United's Europa League win last season, while Celtic are also due a 10 per cent slice as there is no separate broadcasting agreement for Scotland.
Because they qualified via the Europa League, United are not eligible for the €64.4m share distributed based on last season's league position. Liverpool only finished fourth in last year's Premier League, leaving them eligible for just 10 per cent at €6.4m. Last season's champions Chelsea earned 40 per cent — €25.8m.
Yet their run to the final means Liverpool will earn around €17m from the half of the pool distributed based on this season's Champions League performance.
Europa League payments
Despite their semi-final heartbreak in Madrid, Arsenal will receive roughly €40m from their Europa League campaign, largely thanks to the disparity in performance between themselves and the only other English representative, Everton.
Arsenal earned €8m in prize money payments for reaching the last four of the competition but miss out on a further €3.5m awarded to teams who reach the final and €6.5m paid to the winner.
The TV revenue up for grabs from the Europa League is significantly smaller than the Champions League yet as Arsenal were only one of two Premier League teams in the competition and the only side to progress beyond the group stage, they will scoop up around €31.5m in market pool payments.
Combined with their €8m prize money, that puts Arsenal's total haul only narrowly behind the €44.5m Manchester United received for winning last season's competition and above the estimated €37m that Jose Mourinho's side will receive from their Champions League campaign.
Everton, meanwhile, will finish with just €15.6m.