According to reports, Bayern Munich failed to overturn their 2-1 first-leg defeat against Inter Milan at San Siro. The match ended 2-2, eliminating the Bavarians from the Champions League semifinals.

This failure has cost Bayern dearly, both in sporting and financial terms. The Champions League final this season is set to take place at the Allianz Arena in Munich. Bayern had planned extensively to reach the final and play in their home stadium—a dream that has now ended.

Sky Sports reports that elimination from the quarterfinals has imposed a massive financial loss on Bayern.

UEFA awards €15 million to each team that reaches the semifinals. Additionally, Bayern could have earned revenue from ticket sales at the Allianz Arena. The finalists receive €18.5 million, and the winners get an extra €6.5 million.

However, the €40 million loss is not the only financial damage. The four semifinalists, especially the finalists, gain prolonged global media exposure, which translates into significant commercial revenue. Sky estimates Bayern’s total loss could exceed €100 million.