How much does it cost to organise the European Championship?

Organising the European Championship may be a proud moment for host nations, the financial picture is often not as rosy nor clear-cut. UEFA has strict requirements that cause organisers and their respective host cities to bear most of the costs and risks, while the benefits are often unquantifiable.

For UEFA, the tournament is the biggest revenue driver. The 2024 European Championship in Germany is expected to generate €2.41 billion¹ in revenue for the governing body. With the eventual financial windfall distributed to national associations, clubs, and other football projects. However, not before UEFA invests significantly in the event to make it a success.

So, how much does it cost UEFA and host countries to organise the European Championship? What kind of costs are incurred? And what are some of the benefits?

How much does EURO 2024 generate and cost for UEFA?

The 2.41 billion¹ in total revenue UEFA expects to make with EURO 2024, is substantially more than EURO 2016 (€1.92 billion) and EURO 2020 (€1.88 billion) generated. In addition, it accounts for almost 36 percent of the €6.69 billion in revenue UEFA expects to generate during the 2023/24 season.

The sale of broadcasting rights brings about the most revenue with €1.44 billion (60 percent of total revenue). Commercial rights account for 24 percent (€568 million), while tickets and hospitality generate €400 million.

EURO 2024: expected total revenue for UEFA [source: UEFA¹]

Competition costs for EURO 2024 is budgeted at €645.5 million¹, resulting in a net revenue of €1.76 billion. The direct costs of organising the event account for a large part for overall competition costs. Other incurred costs include items such as stadium rental, volunteers, TV production, draws, ceremonies, transport and staff costs. Furthermore, costs for referees and match officials and VAR also contribute.

EURO 2020 a special case

The expected competition costs of EURO 2024 are 8.3 percent lower than the €703.9 million¹ UEFA incurred during EURO 2020. The difference can be explained by the 2020 edition having several unique factors. Firstly, costs were naturally higher due to there being more host countries. To celebrate its 60-year anniversary, the tournament took place across 11 different countries. Previously, there had only been at most two host nations.

The set-up resulted in participating nations having to travel greater distances between matched and venues. Therefore, UEFA increased its travel contributions and paid individual amounts to each participating association depending on the travel involved. Total travel cost amounted to €3.4 million².

Furthermore, the COVID-19 pandemic caused the tournament to be postponed by one year to the summer of 2021. Penalty payments and expenses associated with COVID-19 protective measures increased cost further.

Compared to other editions

Compared to EURO 2016 (€595.1 million), competition costs are expected to be 8.5 percent higher in 2024. Yet, relative to revenue generated, UEFA expects to spend less on competition costs than during the previous four editions (2008-2020). Only 26.8 percent of revenue is expected to be spend on competition costs, while this was 31.1 percent for EURO 2016.

Competition costs have multiplied by 3.4 compared to EURO 2004. With UEFA spending €187.7 million on such costs during the tournament in Portugal. Between 2004 and 2008 (€464.5 million) competition costs increased significantly. With costs rising across the board for UEFA. Direct event expenses, for example, increased from €140 million to €236 million. TV production (€49 million) and hospitality expenses (€74 million) were added. And costs for web production and computer solutions rose with €29 million to €41 million.

Between 2012 (Poland and Ukraine) and 2016 (France), UEFA experienced a 19.2 percent increase in competition costs. The main reason behind the higher costs was the expansion from 16 to 24 participating nations. With more nations competing, the number of matches increased from 31 to 51 and the number of tournament days from 24 to 31.

European Championships since 2000

Competition costs

Organising the European Championship generally has a higher cost to UEFA than its other competitions (e.g. Champions League) as it requires more involvement. Of the €649.1 million¹ UEFA is budgeting to spend on event expenses in 2023/24, 60 percent is related to EURO 2024 (around €387.3 million). These event expenses involve direct event expenses, broadcast and media, marketing, promotion, publications and hospitality.

In addition, UEFA expects to spend €4.408 million¹ on entitlements (for referees only), daily allowances and travel expenses for referees and match officers (delegates, referee observers, security officers, doping control officers and venue directors). While this was €4 million during EURO 2020.

Overall personnel costs are expected to amount to €96.5 million¹ for EURO 2024. With the number of employees increasing to 1,557 as at the end of June 2024. In addition, the number of EURO 2024 GmbH (a joint venture between UEFA for 95 percent and the Deutsche Fußball Bund for five percent³) staff with fixed-term contracts likely continues to increase until it reaches its peak (792 employees) during the tournament.

Furthermore, around €53.5 million¹ is budgeted for information and communications technology. While EURO 2024’s ‘other expenses’ are expected to amount to just under €70 million. Including costs for travel, hotels and daily allowances, consultancy, litigations and legal advice, and outsourced translations and interpreters.

Distribution to the participating nations

UEFA distributes part of its net revenue to participating nations, which is essentially prize money. For EURO 2024, this amounts to €331,000 and comes down to 14 percent of total expected revenue.

The prize money consists of a participation bonus of €9.25 million for all 24 nations. Performance bonusses then determine the eventual amount a nation takes home. Depending on the group stage performances, the champions can earn a maximum of €28.25 million.

During EURO 2020, UEFA also awarded €331,000 million² in prize money. Champions Italy received the maximum amount of €28.25 million by winning all their group stage matches. While the governing body awarded €24.75 million to runners-up England. Semi-finalists Spain (€19.25 million) were paid the third most. Turkey and North Macedonia went home with only the participation fee of €9.25 million as they failed to record a win.

Compensating clubs for releasing players

Apart from distributing part of its net revenue to participating nations, UEFA expects to distribute €240 million¹ to European clubs. With the largest part reserved for clubs releasing players to the tournament.

For EURO 2020, the governing body distributed €200 million to 699 European clubs.² 65 percent (€130 million) went to clubs releasing players to the event. With the distribution determined per player per day based on FIFA’s Club Categorisation for Training Compensation. Category one clubs receive €8,918 per player per day, category two clubs €5,946 and category three clubs €2,973.

UEFA eventually paid the highest compensation, around €5.1 million, to Premier League club Chelsea.

The other 35 percent (circa €70 million) was paid to clubs who released players during the 2018/19 UEFA Nations League and the 2018-20 European Qualifiers, irrespective of whether the national team qualified for EURO 2020 (€4,004 per player per game).

Solidarity payments have steadily increased over the years, with UEFA distributing an extra €40 million for EURO 2024. In 2004, no such payments were made. While the total amount had already reached €150 million by 2016. Two third of which (€100 million) went directly to clubs who released players during the tournament in France.

Beyond organising cost with social investments and HatTrick programme

The remaining revenue UEFA expects to generate with EURO 2024, will be spend on other solidarity and donations (€2.7 million) and contributions to European football (€1.19 billion).

These contributions consist of UEFA’s governing expenses (around €112 million), cost for annual activities through to EURO 2028 (€75 million), rebuilding UEFA’s reserves (€70 million), and the HatTrick programme (€935 million).

The latter was created in 2004 to redistribute revenue from the men’s European Championship to each of the 55 member associations (2024: one-off €5 million and annual €3 million payments) for reinvestment in long-term football development projects.

For EURO 2024, UEFA also distributed €2.3 million to 80 German amateur clubs from the tournament’s climate fund to help invest in sustainability initiatives. While four years prior, the governing body invested €1.8 million² in social responsibility to ensure that football fans with disabilities could also enjoy the biggest football tournament in Europe.

Cost of EURO 2024 for host nation Germany

The strict requirements imposed by UEFA on host nations and cities, result in the need for significant investments. With the amounts often far surpassing early forecasts. In addition to the cost, published contracts⁴ seem to indicate that a lot of the risks lie with the local organisers.

Germany’s federal government, the states and the cities are paying around €650 million³ for the 2024 European Championship. Dortmund, which will host six matches at the 62,000-capacity BVB Stadion, is expecting costs of over €24 million.

The ten cities together, will spend at least €66 million⁴ more than originally planned. In host cities Frankfurt and Berlin, cost have almost doubled compared to 2017 expectations. The cost incurred by the capital will be €40 million above initial forecasts.

A major cost item are fan festivals (zones), which UEFA requires host cities to organise. For this alone, the cities incur costs of around €260 million³. Berlin is spending €24 million⁴ on two fan zones at the Brandenburg Gate and the Reichstag.

Apart from organising fan festivals, host cities must extensively advertise the event throughout the city, including engaging a prominent person acting as ambassador, and train and support volunteers. In addition, they must invest in protecting UEFA’s commercial claims and advertising by setting up a committee to monitor this.

EURO 2016 boost to French economy

France reportedly spent €200 million⁵ in public money to host the 2016 European Championship. However, research found these costs greatly offset by the tournament’s €1.22 billion boost to the French economy.

Including €625.8 million spent by those visiting (613,000) the country. On average, foreign visitors stayed for 7.9 days in France, while spending €154 per day.

Cost also driven by infrastructure needs

Complying with infrastructure requirements is often the biggest cost item (and cause of many challenges) for organisers of major sports events. Especially when new venues must be constructed, or existing ones require significant renovations. For hosts of the World Cup this has repeatedly been a financial challenge. For the 2022 Qatar World Cup, for example, organisers budgeted to spend $3 billion⁶ on the construction of nine new stadiums and the renovation of three others (eventually the number of venues was reduced to eight). While Japan and South Korea (2002 World Cup) reportedly invested between $6.5-7 billion on construction and infrastructure.

European hosts generally require less investments to comply with UEFA requirements. As most nations have enough state-of-the art stadiums with a high enough capacity. The scenario of a major tournament legacy including underutilised venues with high annual maintenance cost is therefore less likely to happen.

EURO 2024 stadiums

For EURO 2024, UEFA required possible hosts to have ten stadiums. Including three stadiums with at least 50,000 seats (preferably one with a capacity of at least 60,000), three more with a capacity of at least 40,000, and four with at least 30,000 seats.

Germany had enough possible venues complying with UEFA requirements. Of the ten stadiums chosen for the tournament, nine also hosted matches during the 2006 FIFA World Cup. The Düsseldorf Arena, opened in 2004, being the exception.

While the Allianz Arena in Munich (set to host six EURO 2024 matches) also hosted four matches (three group stage matches and a quarterfinal) during EURO 2020.

EURO 2024 stadiums [source: UEFA]

Smaller investments add up as well

Despite many state-of-art stadiums, infrastructure investments of various degrees were still needed. The MHPArena in Stuttgart, for example, has been under construction for over two years to meet UEFA’s requirements. An investment of €140 million has modernised the main grandstand. In February of 2024, the City of Stuttgart had to approve extra funding of €20 million to ensure the stadium could be finished in time for the tournament.

Smaller investments to ensure the venues are EURO 2024-ready add up as well. For example, the Allianz Arena has included a temporary security ring with 120 entrances to ensure the highest security standards. In addition, media facilities have been expanded with a larger press stand and additional Pitch View Studios, presenter platforms and camera platforms. While the latest technology has been installed.

Furthermore, the name ‘Allianz Arena’ needed to be removed from the stadium façade, as UEFA has property rights to the stadium during the event. Instead of its sponsored name, the stadium will temporarily be known as ‘Munich Football Arena’.

Infrastructure investments for EURO 2016 and EURO 2004

For EURO 2016, France expected to invest €1.7 billion in the expansion or construction of new venues. Hoping the stadiums would catch up with major sports arenas in Spain, England and Germany. Private financing needed to raise 60 percent of expected costs. The projects were assumed to create 15,000 jobs during construction and 4,500 afterwards.

Portugal also invested heavily in infrastructure⁶ for EURO 2004, with most of the stadiums being either new or significantly redeveloped or expanded before the tournament.

Estádio da Luz, home of Benfica, cost the most with €162 million. With a capacity of over 64,000, the venue hosted the tournament final in which Greece beat the hosts 1-0. Estádio José Alvalade and Estádio do Dragão were also constructed for the European Championship and cost €105 million and €125 million respectively. Despite lower capacity, Estádio Municipal de Braga’s location caused the construction to cost €108.1 million.

Co-hosting to share costs

For 2028 (and 2032) the stadium requirements⁷ were slightly altered compared to 2024. UEFA requires a minimum of one stadium having at least 60,000 seats. Another, but preferably two stadiums, with a capacity of at least 50,000. Four stadiums with at least 40,000 seats and three with at least 30,000 seats.

UEFA’s minimum capacity requirements for 10 host venues [source: UEFA⁷]

To comply with requirements like these and share costs, more and more bids are made by multiple hosts. EURO 2028, for example, will take place across England, Northern Ireland, Republic of Ireland, Scotland, and Wales.

UEFA has awarded the 2032 edition to Italy and Turkey, who combined forces after initially bidding individually. Instead of 10 venues, each now only needs to have five venues meeting UEFA requirements. Hence, less investments are needed. Of course, some other cost items will increase.

Costs and benefits of EURO 2028

Predictions are that the socio-economic benefits of EURO 2028 for the UK and Ireland amount to somewhere between £2.4 billion and £2.6 billion (3 billion). For Ireland the added value, although questioned by opposition, to the economy will be close to €189 million. While cost of under €65 million were adjusted upward to €93 million to account for inflation and contingency funds.

The local economy in Northern Ireland could be boosted by £106 million according to reports. However, the £300 million-plus redevelopment of Casement Park in Belfast is facing challenges.

During EURO 2020, the UK already hosted 12 matches. Including four games at Hampden Park in Glasgow and eight (including the final) at Wembley in London. With stadiums operating at 25 percent capacity, due to the fallout of COVID-19, the tournament was expected to boost spending by £143 million (across four weeks).

Investing for on-field success?

A lot of the (long-term) benefits of hosting a major sports event, like the European Championship, are unquantifiable. However, fans, more than anything want to see their nation have on-field success. Especially if vast amounts of money have been invested to be the host.

Since hosts automatically qualify for the European Championship, it could be a way for less successful nations to secure automatic qualification. Of the ten different hosts between 1992 and 2016 (seven editions), three had never qualified for the European Championship before hosting the event. On their debut, Sweden (1992) reached the semifinals, while Austria (2008) and Ukraine (2012) stranded in the group stage. For Ukraine’s co-host Poland, EURO 2012 was only their second participation after EURO 2008.

Hosting does not necessarily lead to tournament success. During the first 15 EURO editions between 1960 and 2016, only three host nations were crowned champions. Spain (1964) and Italy (1968) were successful, but there were only four nations participating. In 1984 (eight nations), host France also became European champions after beating Spain 2-0 at Parc des Princes in Paris.

Portugal and France were runners-up when organising the EURO in 2004 (16 nations) and 2016 (24 nations) respectively. Although it ended gloomy for these nations, by reaching the final the host nation likely had a higher overall return on investment than had they been eliminated during the group stage.

Football success of hosting the European Championship

Pinpointing costs and benefits of organising the European Championships is difficult. It is clear, that many of the benefits are unquantifiable, like the impact on a country’s image in the long run. At the same time, costs are often far higher than initial forecasts due to all kinds of challenges along the way.