The British economy could lose out on a £1.5 billion boost after all the home teams failed to qualify for the European Championships.
A big money boost which normally comes with major sporting tournaments will not be coming Britain's way.
Sales of beer, pizzas, flat-screen TVs and replica kits will not enjoy an increase in the weeks running up to June next year.
Research by the Centre for Economics and Business Research (CEBR) ahead of the 2006 World Cup predicted a £1.25 billion boost for the economy if England did well. The figure included estimates for retail, pubs and advertising.
Adjusting for the whole of the UK, a similar tournament could therefore be expected to boost the national economy to the tune of about £1.46 billion if the home sides were playing.
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