World Economy

Euro 2016 Revenue Up 34%

Euro 2016 Revenue Up 34%Euro 2016 Revenue Up 34%

Revenue at Euro 2016 has increased by 34% to €1.93 billion ($2.13 billion) compared to Euro 2012, European soccer’s governing body UEFA said.

The increase was to be expected with the expanded format, from 16 to 24 teams, which has meant more broadcasters buying television rights to the showpiece tournament, Reuters reported.

Of the total revenue, €1.05 billion came from television rights, €480 million from sponsorship and licensing and €400 million from ticketing and hospitality, a UEFA statement read.

With costs at €1.1 billion, the income amounts to €830 million, with 600 million going to the 55 UEFA member associations for the 2016-2020 period. The rest goes to the governing body to cover organizational costs over the same period.

The June 10-July 10 tournament in France ends on Sunday with France playing Portugal in the Paris final.

Meanwhile, French football legend Michel Platini is not expected to attend the Euro 2016 final, although interim UEFA general secretary Theodore Theodoridis hopes the outgoing president will change his mind and accept an invite, RTE reported.

In May, the former France attacking midfielder announced he would resign as president of European football’s governing body after his ban from football was reduced from six years to four years by the Court of Arbitration for Sport.

Platini and former FIFA president Sepp Blatter were initially given eight years by world football’s governing body over a €1.8 million payment, made by Blatter to Platini in 2011