With Liverpool currently sixth in the Premier League and five points off the top four with just nine league games remaining, Jurgen Klopp's side are facing the possibility of failing to qualify for next season's Champions League.
In fact, Liverpool's best bet of qualifying for Europe's elite competition is by winning this season's edition of the tournament.
The Reds are through to the quarter-finals, having beaten RB Leipzig 4-0 on aggregate in their last 16 tie, but if they fail to win the competition and are not part of next season's edition then they could miss out on up to £50m.
The vast majority of the losses would come from broadcast revenue and bonus payments and Liverpool do have clauses in player and staff contracts which will see their wages drop with no Champions League football.
Their kit deal with Nike sees them bank a guaranteed £30m each season, but estimates claim it could earn Liverpool as much as £75m because of Nike's global brand and reach.
The deal also contains performance related bonuses, with a report from the Athletic claiming that Liverpool can bank an extra £2m for winning the Premier League and £4m for winning the Champions League from their kit sponsor.
Some commercial deals contain penalties if a club drops out of the Champions League and Liverpool's Nike deal is no different.
However, the Athletic notes that the deal will only be impacted if Liverpool spend two consecutive seasons out of the competition.
A lack of Champions League football could affect Liverpool's transfer business but Klopp is adamant it will not have a major impact.
"It will not be an issue with new players, I can say that", he said. "We said it years back if a player does not want to come to us because we don't play Champions League next season then I don't want him."
