The analysis by the European Club Association also warned that the biggest losses would be felt next season, even if it is played in full.
European football was brought to a near standstill in March and, although many leagues restarted last month, most had to do so without spectators. This was a particular blow in smaller leagues where clubs are more dependent on gate receipts for their income.
There are more than 700 first division clubs in Europe's 55 national associations although a recent study by European soccer's governing body UEFA showed that the top 30 of them rake in nearly half of the total revenue.
Source:
Reuters/RNZ Pacific