Economic crisis from virus pandemic begins to bite in European football

Empty stands in Moenchengladbach before Borussia hosted Cologne in a Bundesliga derby behind closed doors on March 10 [COURTESY]

Europe may be the financial powerhouse of global football, but the economic impact from the coronavirus pandemic is already beginning to hit and the consequences could be disastrous for clubs across the continent.

When players at Bayern Munich, one of the world's richest clubs, have reportedly agreed to take pay cuts, it is not difficult to imagine the troubles in store for the sport as a whole.