The rise in profits came despite Arsenal's football turnover falling to £167.7m from £191.1m due to last season's failure to qualify for the Champions League.
10 sides will enter the Europa League via elimination from Champions League qualifiers, with 17 qualifying for the Europa League directly via their domestic league positions.
With 26 rather than the current 22 automatically reaching the groups, it means only six places will be available in the competition from the playoffs.
The champions of the nations ranked 11th and below will now compete in a revamped "Champions Route", and any team knocked out will get to compete in the Europa League, with staggered access according to round of elimination from the Champions League.
The outrage is understandable and there are suggestions UEFA have abolished 7.45pm kick-offs for 5.55pm and 8pm simply to make more money.
Roger Goodell Asks Jerry Jones for Reimbursement over Public Criticism
Jones reportedly personally lobbied Friel to be lenient toward Elliott, telling her: "I'm saying this as an owner". It has lingered on with Jones attempting legal action to prevent Goodell from securing a sizeable extension.
There will be preliminary rounds in both the Champions League and Europa League prior to their respective first qualifying rounds.
Beginning at the end of June - overlapping with next summer's World Cup in Russian Federation which concludes midway through July - the Champions League will operate its preliminary event as a mini knockout tournament.
UEFA president Aleksander Ceferin said: "Fans see the VAR screen all the time but nobody knows how it works".
Whether that's actually the case is unknown, but regardless, the Champions League will now use the same system as the Europa League, which already has early and late kick-offs in place.
"It could be a good project, useful for football, but we must not rush to take such decisions".