Despite many issues about security concerns, terrorism, hooliganism and France’s typical political chaos, UEFA stands to make a hefty profit from this summer’s tournament in France.
Boosted by the performance of the home team, as well as Cinderellas like Wales and Iceland, UEFA stands to make a profit of $917 million, which is 830 million euros at current exchange rates. Total revenue from the tournament stands to be at $2.13 billion, or 1.93 million euros.
“The numbers are positive,” UEFA interim general secretary Theodore Theodoridis said at a news conference, adding that the larger, expanded event “was a big success.”
This was the first European Championships after the tournament expanded to 24 teams from 16. The extra 20 matches helped boost revenue by 34 percent from the tournament four years ago which was held in Poland and Ukraine.
In 2020, the European Championships will be held continent wide as a “romantic” one off tournament, and the qualification process will be assisted by the brand new UEFA Nations League, which will see more European heavyweights playing against each other.
[AP]
