Europe's $2 Billion Tournament

• Reuters, Friday, June 6, 2008 4:15 PM

The European Championship, which kicks off on Saturday, will generate a record income of $2 billion -- an increase of 50 percent from 2004 revenues. "The sums from TV rights and sponsors are much bigger than the sums generated from ticketing," said UEFA general secretary David Taylor. "Considerable sums are now also being generated by corporate hospitality."

Each of the 16 finalists receives $12 million for participating in the tournament. The champion will take home a maximum of $36.8 million. UEFA will divide $720 million among its 53 members for development programs.

A report by the StageUp sport business research firm showed earnings from the event have risen six-fold since 1992, the last time an eight-team finals was held. The current format of 16 teams was introduced in England in 1996. UEFA is considering a plan to expand the tournament to 24 teams in 2012.

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