The Euro 2024 has reached the final event and only one team between England and Spain will emerge victorious on Sunday.
Beyond the glory of lifting the coveted trophy, the European Championship offers substantial financial rewards for the competing teams. The prize money for Euro 2024 is a significant aspect of the competition, as it not only motivates the teams but also underscores the importance and scale of the event. From the group stages to the final, the financial stakes are high, making each match crucial for the participating nations.
As we delve into the specifics of the Euro 2024 prize money, it's essential to understand how UEFA allocates these funds and the potential earnings for the teams. The distribution of prize money is designed to reward performance and progression through the various stages of the tournament. This financial incentive is crucial for national football associations, contributing to the development of the sport in their respective countries. Here, GOAL will explore the breakdown of the prize money for Euro 2024, highlighting how much the European Championship winners will receive at the end of their campaign.
How much is Euro 2024 prize money?
The total prize money pool for Euro 2024 is €331 million, the same amount as in Euro 2020. This significant sum is distributed among the 24 participating teams based on their performance throughout the tournament.
The maximum a team can win at Euro 2024 is €28.25 million. To earn this maximum amount, a team would need to:
- Win all three of their group stage matches (€1 million for each game means a total of €3 million)
- Win their Round of 16 match (€1.5 million)
- Win their quarterfinal match (€2.5 million)
- Win their semifinal match (€4 million)
- Win the final match (€8 million)
- Combine that with their participation fee (€9.25 million)
Euro 2024 prize money breakdown
| Stage of Tournament | Prize Money |
|---|---|
| Participation Fee | €9.25 million |
| Group Stage Win | €1 million |
| Group Stage Draw | €500,000 |
| Round of 16 Qualification | €1.5 million |
| Quarterfinal Qualification | €2.5 million |
| Semifinal Qualification | €4 million |
| Runner-Up | €5 million |
| Winner | €8 million |
The maximum a team can win at Euro 2024 is €28.25 million. As depicted in the table, the runners-up will get a reward of €5 million and the winner will be given €8 million.
If England win Euro 2024:
England's squad will reportedly receive a £24million ($30.4m) bonus from the English FA if they manage to beat Spain in the Euro 2024 final on Sunday, with Three Lions boss Gareth Southgate already earning half of his £4 million bonus just for reaching the final.
England have so far earned €19.25m from UEFA, and if they win their first major tournament since the 1966 World Cup, it will increase to €27.25m. In case Southgate's men finish runners-up at the Euros once again, that amount will be €24.25m.
If Spain win Euro 2024:
As per The Sun, Spain players will stand to gain £0.3 million ($0.38m) each if they beat England in the Euro 2024 final, with manager Luis de la Fuente set to earn the same amount.
The amount will be the largest sum the Spanish FA has ever shelled out in rewards.
If La Roja maintain their 100 percent record at the tournament, out of the €28.25m from UEFA to the RFEF, €11.3m or 40 percent of the amount will be paid to the squad in bonuses. In the event Spain lose the final, the amount due from UEFA will be €25.25m.