The decision to hire and eventually David Moyes could end up costing Manchester United more than $335 million USD, according to experts.
United won't be in the Champions League next season, which represents an $83 million loss of revenue in the form of television rights, prize money and gate receipts.
United will also likely spend just over $250 million on player acquisition.
Bayern Munich was in a similar position after failing to qualify for the 07-08 Champions League. Bayern had a net spend of approximately $100 million, which would be worth more than $167 million in today's dollars.
Moyes is believed to have agreed to a one-year severance package worth $7.5 million and the compensation for firing his staff is likely $2.5 million.