Football clubs still in this season’s UEFA Champions League have made on average 50m euros ($72m; £45m) from the competition, research has suggested.

Commercial revenues are up despite the downturn, the Mastercard study found.

The 50m euros is made up of participation and prize monies, UEFA and club commercial revenues, ticket sales and increased squad values.

The study also found the competition in the 2009 calendar year generated 6bn euros for the European economy.

This is the same amount as the last FIFA World Cup finals in Germany.