You can excuse Arsenal fans for feeling rather deflated right now.

There was so much on the line during their Europa League final against Chelsea and even the most pessimistic of supporters would never have predicted a 4-1 hammering.

Admittedly, the scoreline reads a little harshly on Arsenal, but the fact of the matter is that Chelsea were incredibly clinical when they had the chances.

Goals from Olivier Giroud and Pedro thrust them into a second-half lead, before Eden Hazard scored either side of a wonderful strike from Alex Iwobi.

In many respects, there was actually more on the line for Arsenal and defeat in Baku seemed to end their hopes of qualifying for next season's Champions League.

Arsenal lose Europa League final

That will come as double the blow when you consider Arsenal had it within their hands to finish in the Premier League's top four, only to lose four of their final seven games.

As a result, many Arsenal fans are starting to regard their season as a failure and it's now reported that their transfer funds for the summer will be diminished.

Yet it's the fact that Arsene Wenger's departure and Unai Emery's arrival hasn't marked a noticeable change in terms of Europe that will irk so many of the supporters.

Arsenal could still make Champions League

However, hold that thought, because it seems there could still be a route to the Champions League for Arsenal and that's in spite of their 4-1 defeat on Wednesday night.

Lest we forget that Manchester City are under investigation by UEFA and - according to the New York Times - the governing body are looking to ban them from next season's competition.

And per the Mirror, any such ruling would see the next best Premier League added in their place and because of the Europa League final result, that duly means Arsenal.

If the Gunners had defeated Chelsea, any potential ban would have benefited Manchester United but that is no longer the case and Arsenal could now have a slim chance of qualifying.

The case between UEFA and City remains ongoing and Arsenal will have to hope that regardless of the findings, that any such punishment would apply to 2019-20 and not a later campaign.

Not only that, but the Citizens seem pretty confident that their Financial Fair Play is in check and chairman Khaldoon Al Mubarak has recently addressed the situation.

"We have to professionally respond which is what we have done. We are dealing with each of these entities as per the process, we have clear answers," he explained.

"I believe, quite comfortably, if the process is going to be judged on facts then unquestionably we will prevail. If it's not about facts and it's about other things, then it is a different conversation."

It seems unlikely, but Arsenal should be thankful that there's still the slimmest of chances.

Where do you think Arsenal will finish next season? Have your say in the comments section below.