UEFA’s Financial Plan to Replenish Cash Reserves with Euro 2024 in Germany
In a strategic move to refill its pandemic-hit cash reserves, UEFA has announced a two-step financial plan that kicks off with the upcoming men’s 2024 European Championship set to be held in Germany, the home of Europe’s largest economy.
The tournament, scheduled to take place from June 14 to July 14, is expected to generate a revenue of approximately 2.5 billion euros ($2.7 billion) from broadcast and sponsor deals, ticket sales, hospitality packages, and licensing. With a total of 51 games to be played across various cities in Germany, including the championship match in Berlin, UEFA forecasts that close to half of the income, around 1.2 billion euros ($1.3 billion), will be profit.
The costs associated with organizing the tournament include substantial prize money for the 24 participating teams and daily-rate payments to clubs whose players are selected. Despite the challenges posed by the COVID-19 pandemic, UEFA remains optimistic about the financial success of Euro 2024 in Germany.
Looking ahead, UEFA has also confirmed its long-term plan to host Euro 2028 in the UK and Ireland, with a focus on maximizing revenues and ensuring financial stability. The organization’s commitment to supporting its member federations through development grants and funding initiatives remains a top priority as it navigates the economic impact of the global health crisis.
As UEFA prepares for the upcoming European Championships, all eyes are on Germany as the host country and the financial implications of the prestigious tournament.