Manchester United are set to incur a loss of 80million following their miserable season in the Premier League and absence from European competition next season.
The Red Devils were in line for a 70million payment if they had qualified for the Champions League by winning the Europa League final against Tottenham Hotspur.
Ruben Amorims men lost 1-0 in Bilbao to their league rivals, thanks for a first-half goal from Brennan Johnson.
The result also means they will not play in Europe at all next term.
This season, United earned 30million in UEFA TV money from the Europa League. They wont have that money next season.