A $360 MILLION PRIZE FUND FOR 24 NATIONAL TEAMS IS ESTABLISHED BY UEFA FROM $2.6 BILLION IN EARNINGS.

Babatunji Wusu –

In light of the anticipated 2.4 billion euros ($2.61 billion) in commercial revenue, UEFA said on Saturday that it will award a total of 331 million euros ($360 million) in prize money to the 24 national teams competing in the men’s European Championship.

The prize pool for the team is 20 times higher than that of UEFA for the women’s Euro 2022 and equal to that of the pandemic-affected Euro 2020.

Prior to the tournament draw, the European football governing body announced that the winning national federation of Euro 2024 would get a maximum of 28.25 million euros if the team wins all three of its games in the first group stage.

Starting on June 14, a minimum of 9.25 million euros will be awarded to each of the 24 teams participating in the month-long competition in Germany.

In exchange for releasing their players to represent their countries, clubs will get an additional 240 million euros from UEFA. For qualifying matches and the actual Euro 2024, each player receives a daily rate of several thousand euros while they are with their national teams.

FIFA distributed $440 million in prize money to the 32 men’s teams competing in the 2022 World Cup, four times the amount given to the 32 women’s teams competing in the 2023 World Cup.

The 16 women’s teams that competed at the 2022 European Championship in England will receive prize money totaling more than 16 million euros from the winner of Euro 2024. There are different business agreements for the women’s and men’s events.

Last year, England won its domestic women’s competition and took home a prize fund of slightly more than two million euros. 4.5 million euros were available from UEFA to reward women’s teams for releasing players.

In the past, UEFA indicated that teams who released more than 550 players required for the Euro 2024 competition would split a 140 million euro allocation.

The allocation of the remaining 100 million euros from the player release fund is based on calls-ups for all national teams participating in qualification matches and two Nations League tournaments.

A total of 200 million euros were allocated by UEFA to the men’s player release fund from Euro 2020 earnings, with roughly 700 clubs receiving a part. Chelsea received the largest payment of 5.1 million euros.