TOTTENHAM'S exclusion from the Champions League due to Chelsea's Munich triumph will cost the White Hart lane club up to £35million in cash – but the real damage could be far greater in terms of keeping their stars, according to football finance experts.

Harry Redknapp's Spurs finished fourth in the Barclays Premier League, which would usually guarantee a spot in the qualifying rounds, but they lost out because the Blues take the fourth English place as holders of the trophy.

Tottenham will earn only around £5m in media rights from the Europa League instead of £25m from the Champions League.

There is also a huge loss in merchandise and sponsorship income that could see a further cost to the club of around £10m.

Even more concerning for fans is the possibility of star players such as Luka Modric and Gareth Bale pushing for a move to clubs that are in the Champions League next season.

Brendan Guilfoyle, who is a football expert at P&A Partnership, said: "In terms of the effect financially, Spurs is a well-run club but revenues will inevitably be lower, so they will have to adjust that in terms of the wages they can offer and the transfer fees they can pay and still remain in the black.

"The more immediate worry for fans, and I am a Tottenham fan myself, is that, in terms of signing top players, we won't be as attractive."

Didier Drogba will quit Chelsea following his final heroics, accord-ing to reports in France. He scored the equaliser against Bayern and the match-winning penalty.