Manchester United stand to lose £150million if they fail to qualify for next season’s Champions League. Louis van Gaal’s side have already missed out on £50million this season, and the loss will come as a result of decreased revenue and prize money. Chelsea captain John Terry has taken his first steps into management after taking an Under 15s training session in Cobham. The former England centre back has revealed he will be a ‘shirt and tie manager’, but admits he still has a long way to go in the coaching process. And finally, new figures have emerged showing Arsenal have spent less than Hull City, QPR and Crystal Palace since the January transfer window began. The Gunners have a net spend of just £4.3million in the first month of each New Year, with the Hoops top of the pile over the past 11 years and Chelsea second.