Football's European body UEFA has estimated that the financial losses incurred by the top football clubs due to the Covid-19 pandemic is nearly $10 billion. UEFA confined that the amount is huge as the clubs lost money due to sponsorship, gate receipts as well as broadcast revenue. As a result, the clubs spent a significantly lower amount in the transfer window for new signings. According to UEFA, the January window was down by 56% compared to last year. UEFA in the report also criticised the much-publicised European Super League which was shut down within 48 hours of its launch and said that the closed championship would have had a devastating impact on European football from a sporting, emotional and financial perspective.