It could be over $100 million hit that English football club Manchester United may have to take, if they do not improve their performance this season.
The contract with Adidas, worth $930 million over 10 years, could be cut by 30 per cent if Manchester United fails to qualify for the Champions League for the second consecutive year. That could entail a loss of nearly $28 million this year.
The contract stipulates that not making it to the Champions League football for two seasons running will result in the cut. Last year, the club had qualified only for the Europa League.
According to the Daily Mail, Manchester United would also miss out on the television revenues and prize money from Champions League worth nearly $75 million.
For the ardent fan of the club, all may not have been lost. There are two ways in which Manchester United can qualify for the UEFA Champions League – finish in the top four of the league or win the Europa League. Although both the chances remain open, there is every possibility that United might miss out on the prestigious Champions league for the second consecutive time.
The Red Devils had earned nearly $35 million in their Euro campaign last year. They were knocked out at the group stage and later beaten by Liverpool in the Europa League pre-quarter finals.
According to the newspaper report, Manchester United will also have to cut ticket and hospitality prices by five per cent if the club failed to finish among the top four. That could cost it another $4 million.