Lionel Messi’s departure from Barcelona could cost the club up to €137 million in lost revenue, according to consulting firm Brand Finance.

In its report, the firm stated that Barça is the second biggest football club in the world in terms of brand value, behind only Real Madrid, with a value of €1.27 billion.

Barcelona’s lost income due from brand-related revenue and commercial interests represents 11 percent of the club’s current valuation of €1.26 billion.

The biggest loss would come in the form of commercial income, with the club predicted to lose up to €77 million in sponsorships with another €43 million in shirt sales and other merchandise.