UEFA has unveiled a two-step financial plan to replenish its cash reserves that were impacted by the pandemic. The first step involves hosting the men's 2024 European Championship in Germany, the largest economy in Europe. The tournament is expected to generate around 2.5 billion euros in revenue from broadcast and sponsor deals, ticket sales, hospitality packages, and licensing.
The costs of organizing the event include substantial prize money for the 24 participating teams and payments to clubs for their selected players. The profit from Euro 2024, estimated at 1.2 billion euros, will fund UEFA's operations, development grants, and bolster its reserves for the next four years.
Germany was chosen to host Euro 2024, marking 36 years since West Germany hosted Euro '88. The decision to award the tournament to Germany over Turkey was made before the global health crisis emerged.
Looking ahead, UEFA has confirmed that Euro 2028 will be hosted jointly by the UK and Ireland. This decision was influenced by the legacy of the COVID-19 pandemic and aims to ensure financial stability for UEFA after the challenges faced during Euro 2020.
UEFA's cash reserves, which stood at 575 million euros before the pandemic, dropped to 360 million euros due to the crisis. The organization aims to maintain a baseline reserve of 500 million euros.
The revenue generated from Euro 2024 will also support UEFA's 'HatTrick' program, providing funding to member associations for various projects, operational costs, national teams, and education.
Prize money of 331 million euros will be distributed among the 24 national federations participating in Euro 2024, with the champion potentially receiving 28.5 million euros. Additionally, over 600 clubs worldwide will receive payments from a fund of 240 million euros for releasing their players for the tournament.
UEFA's financial model ensures that funds are distributed equitably among clubs and national associations, supporting the development of football across Europe and beyond.
