In United’s case, a round of 16 exit at the hands of Atletico Madrid was followed by a failure to qualify for next year’s competition after a disappointing sixth-placed finish.
As for City, they were eventually sent packing by Saturday’s eventual winners Real Madrid in a massively dramatic semi-final defeat, but it’s not all doom and gloom for Pep Guardiola’s men when it comes to continental matters.
For one thing, the Blues will once again feature in Europe’s top competition next season after securing the Premier League title this term.
For another, their coffers didn’t do too badly from a run to the last eight either.
Even before factors like TV money are taken into account, both City and United still stand to earn millions in prize money from this year’s Champions League - but just how much exactly?
We’ve taken a look at Sporting Life’s analysis of the competition to give you a full rundown of the tournament’s top earners in 2021/22.
Check out the countdown below...