The Gunners will be hoping the UEFA throws out Manchester City out of the Champions League next season as their last chance.
Manchester City are currently subject to allegations of financial irregularities as the club are said to have agreed inflated sponsorship deals to allow the Abu Dhabi royal family to put extra money into the club.
City are subject to investigation by a regulatory committee over a series of leaks into their financial conduct.
According to the newspaper, sources from the football governing body revealed that the club could be banned from the Champions League if they are found to have broken the rules.
But English clubs will retain their four competition places according to Champions League regulations.
According to article 4.08 of UEFA rules,
“a club which is not admitted to the competition is replaced by the next best-placed club in the top domestic championship of the same association”.
Arsenal’s chances of booking a place at the most prestigious club competition became slimmer after they lost 4-1 to Chelsea in the Europa League final in Baku last night.
The defeat for the Gunners means they will be without Champions League football next season but they now hope UEFA’s decision on City favours them.