A record potential jackpot of £ 24million is offered to the winner of the European Championship despite a small overall reduction in the prize pot due to Covid-19. England, Wales, Scotland and the other 21 qualifying nations all automatically received a minimum payout of £ 8million, but would have had to win all of their group matches to get the maximum amount.
An initial budget of £ 319million for the tournament has been reduced to £ 284.55million due to the tournament’s delay and the increased costs of hosting matches with reduced crowds.
However, the Football Association’s plan to pass a percentage of those winnings on to players as a performance bonus is complicated by a £ 175million taxpayer-backed loan the governing body has taken out.
Whitehall sources have previously said Sport Telegraph the terms of the Bank of England’s ultra-low interest loan prohibit the FA from rewarding Gareth Southgate’s team for Euro 2020 as long as one of them remains open. Sport Telegraph was informed that the FA were planning to repay the loan before player bonuses were due.
Any bonus figures would likely be broadly in line with the last World Cup, when Southgate’s 23-man side would have pocketed a maximum of £ 5million if they had won the tournament.
The guaranteed qualifying fee for all nations was closed at a meeting of nations last month, but UEFA’s proposals to cut planned match bonuses and progress in the final leg to offset the costs of the pandemic were dismissed.
Qualifying for the round of 16 was worth £ 1.29million, up from £ 1.72million originally, quarter-finalists received an additional £ 2.15million, compared to 2.8 million pounds expected, while the semi-finals were worth an additional £ 3.44. m, compared to £ 4.3million. England and Italy will take the biggest prize in the final on Sunday 11 June at Wembley Stadium, with the winners now receiving £ 6.88million, with the finalists taking home £ 4.3million.
Getting deep into the tournament would be a blessed relief for the FA, which announced last year that the coronavirus crisis would force it to cut 124 positions – 15% of its workforce – amid potential losses of around 300 million of pounds sterling.
Southgate, who had a bonus of up to £ 1.5million at the World Cup, also suffered a 30% pay cut due to the crisis.
Here’s how the prize pool will be shared in the coming weeks for qualifying:
- Guaranteed group stage fees (per nation): £ 8million
- Match Bonus: £ 860,000 per win, £ 430,000 for a draw (down from respective planned funds of £ 1.29m and £ 645,000)
- The last 16: £ 1.29m (vs. £ 1.72m)
- Quarterfinal: £ 2.15m (vs. £ 2.8m) Semi-final: £ 3.44m (vs. £ 4.3m)
- Finalist: £ 4.3million (vs. £ 6million)
- Winner: £ 6.9million (vs. £ 8.61million)