Football around the world will lose out on almost €11.8billion in revenue because of the coronavirus pandemic, world governing body FIFA estimates.
It puts the value of the club and national team game in 2020 at $46bn US dollars before international club football such as the Champions League is taken into account, and believes $14bn of that will be lost because of the Covid-19 outbreak.
Olli Rehn, the man who heads the steering committee for FIFA's $1.5bn relief fund, set out the impact of coronavirus to the game on Wednesday morning.
"It's a huge number and it covers the football economy in its entirety, including all youth academies," he said.
"This will impact next year as well, there is a carry over. That is why this Covid-19 relief fund is not time-bound - they may request loans later on if they need to.
"If you look at the breakdown of the impact, clubs and member associations in Europe were most impacted in absolute terms, but relatively those outside of Europe have suffered more, in particular in South America, many on account of their relative means and the spring to autumn season."
The relief plan allows national associations and regional confederations to apply for grants and interest-free loans.
Each national association can apply for a grant of $1million plus a further $500,000 ring-fenced for women's football.
Confederations can apply for a grant of $2million..
FIFA has encountered many issues in its past with funds being misused, but Rehn is confident the auditing processes being implemented will detect any corruption.
"Good governance is at the heart of this Covid-19 relief fund," he said.
"We have made this clear to member associations. I know some member associations have complained about heavy compliance procedures - I'm quite used to that. We do require full compliance and we have been working with globally-known auditing companies.
"Corruption has no room in football. It's essential that the money is being used for the right purposes."
The English Football League today underlined the importance of starting to allow fans back into stadiums to help alleviate the "extreme pressure" on clubs' finances.
Discussions continue between sports governing bodies and the British government over the return of supporters amid the challenges of Covid-19.
The government had set 1 October as the date that fans could begin to filter back into stadiums at 25 per cent capacity on average, but that is under review after a spike in coronavirus cases nationwide.
EFL head of policy John Nagle said yesterday that clubs will make a collective loss of £200million if fans do not return this season, having already been hit by a £50million loss lass term.
And today the EFL said in a statement: "The EFL remains in discussions with the Government about the pilot programme which may include a limited number of further pilot matches during September with a capacity limited to 1,000.
"The League is clear in its view that social distancing can be applied safely in football stadia and that having crowds at matches is an absolutely essential part of helping to protect club finances, which remain under extreme pressure.
"Therefore, the successful delivery of further pilots will be an important step towards getting larger number of fans into grounds safely.
"The EFL will continue its dialogue with DCMS and SGSA to ensure that evidence and insight secured from these events helps to inform the Government’s position on welcoming back supporters post 1 October."