I’m writing this from my hometown of Philadelphia and yes, it’s true: Eagles fans are lunatics. But they’re also super-passionate and excited for the big game this Sunday. Regardless of where you live, if you’re a football fan the Super Bowl is always a big event and if ticket prices are any indication, this game will be a popular one. But there is a dark side to all this hoopla, particularly for employers like me: the cost of lost employee productivity.

These fears were confirmed today with the release of a new study from outplacement firm Challenger, Gray & Christmas. The firm says that, assuming the same number of workers take the Monday after the Super Bowl off as last year, the cost of lost productivity to the economy will exceed $3 billion. Mind you, this is a national average. With almost 3 million workers in the Philly metropolitan area, the cost here could be as much as $194 million alone.

Now $3 billion is a giant number. But, according to the study, even if workers just come in a mere hour late or spend an hour discussing the game the lost time will still amount to about $1.78 billion. The game hasn’t even taken place yet, but estimates are that businesses have already lost almost $300 million to discussions, debates and (if you’re a Philadelphia employer) spontaneous cheers of E-A-G-L-E-S.

Many feel there would be less disruptions and therefore less costs to just have a national holiday after the Super Bowl and a petition was actually floated to support the idea (it failed due to lack of signatures). So until the federal government takes action, what can an employer do? I guess we might as well just join in the fun. “Employers could have a Super Bowl Monday party, letting workers rehash the game together.” Andrew Challenger, vice president of Challenger, Gray & Christmas, said in a statement. “For those who can, managers might consider allowing workers to come in later that Monday.”

While the numbers are huge, Challenger offered these encouraging words for business owners: “The loss of productivity will not be measurable across the entire economy and frankly, likely will not be noticed within an individual company.” Really? okay, Mr. Challenger, I’ll take that bet. If, God-willing, the Eagles beat the Patriots and there’s a parade down Broad Street feel free to stop by any business in this town that day and you’ll see how “noticeable” that effect will be. That is, if any business here is actually open for business.