The city of Liverpool would benefit from both Everton and Liverpool qualifying for the Champions League.
Liverpool and Everton Football Clubs will earn at least another £25m each next season if they both qualify for the Champions League.
And the wider city region economy could also benefit to the tune of tens of millions of pounds, according to a leading academic at the University of Liverpool's Management School.
Kieran Maguire of the school's Football Industries Group told the Liverpool Echo: "Last season Liverpool had total revenue of £206m, but the club will be able to negotiate substantial increases with commercial partners if they can add Champions League exposure.
"Last season Everton had total income of £86m, and the new Sky TV deal that kicked in this season will give them at least another £15m.
"Roberto Martinez, whose astute management in the transfer market has brought in a net £14m this season, will have a sizeable transfer kitty available to him to boost the squad too."
Mr Maguire added that if Liverpool lift the Premier League trophy this season then TV and prize money alone will total almost £100m.
"If both clubs can maintain their Champions League status then the rewards in 2015/16 will be even higher, as BT Sport have secured the exclusive rights to European football from that season and Champions League qualifications will be worth a minimum of £40m a year," he said.
"It's not just the clubs themselves that will benefit. Potential matches against high profile opposition such as Real Madrid, Barcelona and Bayern Munich, and the fans that they will bring, along with the increased international media profile, will have a positive impact on the city's profile.
"A recent study indicated that the average overseas football fan spends £776 when watching their team play overseas, which is great for the airport, hoteliers, bar owners, taxi drivers and restaurants.
"Each home match is potentially worth up to £2.5m to the city economy, which means that there could be a £15m boost to the local economy if both clubs qualify for the group stages of the Champions League, and far more if they progress further."
