The suspensions of competitions across the world is having and will have major financial implications for clubs, players and coaches.

UEFA have already postponed Euro 2020 until 2021, while there is no set date for the finals of the Champions League or Europa League.”Nothing will go back to being like before,”

UEFA president Aleksander Ceferin has said.Not completing the current season would cause clubs and leagues to make massive losses.An estimated 700 million euros would be lost in Spain and seven billion euros across Europe due to the lack of revenue from TV rights and sponsorship deals.

The possibility of cancelling the rest of the season is becoming a reality in Italy, the Netherlands and now Spain.As for players, some of them will see their wages cut or cancelled altogether during the time when football isn’t being played.In the transfer market, money won’t be as readily available to spend as recent years,

which means the values of players will drop.According to the CIES Football Observatory, Paul Pogba, whose contract expires in 2021, will now be worth 35m euros.Eden Hazard would’ve been worth 65m euros rather than 100m euros if Real Madrid had bought him this summer.The postponement of Euro 2020 has opened the door for leagues to be completed in the summer,

but, even with this window available, it looks unlikely that football will return sooner rather than later.UEFA are aware that the Champions League might have to be cancelled this season

if domestic leagues are going to complete their fixtures.World football’s governing bodies are working on solutions to all these problems and only time will tell how great the impact of COVID-19 really is on the sport.