EURO 2008 to gross EUR 1.3 bn

UEFA has reported that the 2008 European Championship will produce unsurpassed revenue of EUR 1.3 billion.

In a news conference held on Friday, UEFA secretary David Taylor revealed that the amount is approximately 50 percent greater than the income generated from the previous EURO 2004 in Portugal.

Taylor explained that much of the income will be generated from sponsorships and television contracts, while operating costs to stage the event are to reach EUR 600 million. EUR 450 million will be allocated to all 53 UEFA member associations.

This major event is likely to enhance the European economy. The sport business research group StageUp estimated a EUR 1.4 billion increase, which includes the EUR 470 million that the hosts Austria and Switzerland will receive.

After the Olympic Games and the World Cup, the European Championship has grown to become the third largest sporting event on the planet.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.