When Liverpool stepped out at the Helsinki Olympic Stadium on August 8, 2001 it brought an end to a wait that had stretched back 16 years.Liverpool were back on the biggest stage of European football, making their first appearance in the rebranded Champions League with a third qualifying round clash at Finnish minnows FC Haka. Not since their 1-0 defeat to Juventus in the 1985 final of the European Cup, a game remembered for all the wrong reasons after 39 fans lost their lives in the Heysel Stadium disaster, had the Reds been part of the top table.What happened at Heysel saw English clubs banned for five years from European competition, and by the time that ban had lifted the dominance Liverpool had in the 1980s had gone and there had been a changing of the guard, with the Reds unable to make the Champions League during the 1990s, having to settle for the lesser lights of the UEFA Cup instead.But after a third-placed finish in the 2000/2001 Premier League season, Liverpool found themselves two games away from a lucrative spot in the group stages of the competition, which had been revamped and rebranded in 1992.READ MORE:Luis Suarez Liverpool contract gives hint to FSG crucial next movesIn their way stood FC Haka, a club with a long history of European participation through their success in the Finnish leagues. The game was played at the 40,000 capacity Olympic Stadium in the Finnish capital of Helsinki, FC Haka's Tehtaan Kenttä stadium deemed too small to host a game of the magnitude of Liverpool, the capacity at their modest home in the Valkekoski district just 3,500.A Michael Owen hat-trick and goals from Emile Heskey and Sami Hyypia sealed a 5-0 first leg win, with the Reds cruising to a 4-1 win at Anfield against the Finnish side a fortnight later to book their place in the group stages.Their Champions League debut, in its revamped form, would see them reach the quarter finals and the next two decades would see them become a regular fixture among Europe's elite once again, winning the competition so famously against AC Milan in 2005.Sami Hyypia of Liverpool scores the fourth goal during the UEFA Champions League Third Qualifying Round, First Leg match between FC Haka and Liverpool at the Olympic Stadium in Helsinki, Finland (Image: Getty)They were losing finalists in 2007 and 2018, semi finalists in 2008, quarter finalists in 2009 and, of course, winners of the competition for a sixth time in 2019.Since 2001 the Reds have been involved in 13 Champions League campaigns, making the minimum of the group stage in each one. And during that time it has been a major financial boon to the club, none more so than in recent years as the lucrative nature of the competition has seen it become even more valuable to clubs, so much so that missing out on the competition can have a hugely detrimental impact on the bottom line.When the Champions League began the prize pot shared among clubs was a little over £20m in the 1992/93 season. It now stands at over £2bn as broadcast revenues and commercial partners have bumped up the money to astronomical levels that has played a part in a ballooning wage and transfer market.Sign up for daily Liverpool newsGet all the latest Liverpool breaking news, team news, transfer rumours, injury updates plus analysis of what's next for the Reds.You'll also get the latest transfer talk and analysis every day for FREE! Sign up here - it only takes a few seconds!Champions League qualification is of huge significance, with the Reds earning £113m from it during their winning campaign in the competition in 2019. The current season saw them bring in over £80m.By simply qualifying for the competition, and not including the prize money for wins and draws, or assuming qualification beyond the group stages, simply appearing in the group stage and being able to claim the broadcasting rights, market pool and co-efficient payments that go along with it would be worth £58m to Liverpool.For Liverpool it has been a money spinner since their return to the competition, and the Reds have brought in some £440m in prize money since. It is estimated that over £17bn has been handed out in prize money since the competition's revamp in 1992, meaning the Reds have taken around 2.5 per cent of the overall prize money despite having been absent from the competition for the first nine years of its existence. Must-read Liverpool FC newsReal Madrid lead the way, with more than £800m having been accrued through their Champions League successes that have included seven wins since 1992.As 2020 turned into 2021 it seemed as if Liverpool would be facing a campaign without Champions League football until they managed, despite a major injury crisis, seal third spot with a patched up side to book their place in the competition's group stages for this coming season.For clubs like Liverpool, at a time when the pandemic has so badly affected football, it has never been more important to be part of Europe's elite club tournament.Read MoreRelated ArticlesRead MoreRelated Articles