{"id":483990,"date":"2024-06-08T08:18:25","date_gmt":"2024-06-08T12:18:25","guid":{"rendered":"https:\/\/7sport.net\/en\/?post_type=news&#038;p=483990"},"modified":"2024-06-08T06:57:38","modified_gmt":"2024-06-08T10:57:38","slug":"uefa-aims-at-returning-to-550-million-reserves-with-euro-2024","status":"publish","type":"news","link":"https:\/\/7sport.net\/en\/news\/uefa-aims-at-returning-to-550-million-reserves-with-euro-2024\/","title":{"rendered":"UEFA aims at returning to $550 million reserves with Euro 2024"},"content":{"rendered":"<p>UEFA\u2019s two-step financial plan to replenish its pandemic-depleted cash reserves begins with the men\u2019s 2024 European Championship, which will be held in Germany, the continent&#8217;s largest economy.<\/p>\n<p>The tournament is expected to generate approximately 2.5 billion euros ($2.7 billion) in revenue from broadcast and sponsorship deals, as well as from ticket sales, hospitality packages, and licensing for the 51-game event. The competition will kick off on June 14 in Munich and culminate on July 14 with the final in Berlin.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">One week until Euro 2024 \u23f3 <a href=\"https:\/\/t.co\/1LV6uo1Bqv\" target=\"_blank\">pic.twitter.com\/1LV6uo1Bqv<\/a><\/p>\n<p>\u2014 B\/R Football (@brfootball) <a href=\"https:\/\/twitter.com\/brfootball\/status\/1799154408841674984?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">June 7, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In April, UEFA forecast that nearly half of its Euro 2024 income, around 1.2 billion euros ($1.3 billion), will be profit. This profit will fund a significant portion of UEFA&#8217;s activities and development grants over the next four years, while also boosting its cash reserves. UEFA maintains a baseline comfort level of 500 million euros ($543 million) in cash reserves, which stood at 575 million euros ($624 million) before the pandemic in early 2020.<\/p>\n<p>The pandemic caused UEFA\u2019s reserves to drop to 360 million euros ($391 million) according to the most recent financial statements for 2023. However, UEFA finance director Josef Koller assured its 55 member federations in February at their annual congress in Paris that the lowest point has been reached.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\ud83c\udfdf\ufe0f Berlin gets dressed \ud83d\udd74\ufe0f<a href=\"https:\/\/twitter.com\/hashtag\/EURO2024?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#EURO2024<\/a> <a href=\"https:\/\/t.co\/uxFGlzibti\" target=\"_blank\">pic.twitter.com\/uxFGlzibti<\/a><\/p>\n<p>\u2014 UEFA EURO 2024 (@EURO2024) <a href=\"https:\/\/twitter.com\/EURO2024\/status\/1799059805174407618?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">June 7, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The men&#8217;s European Championship is the cornerstone of UEFA\u2019s finances, supporting development payments to its members. Although the Champions League and other club competitions generate more revenue \u2014 about 3.5 billion euros ($3.8 billion) this season \u2014 most of that income goes back to the clubs as prize money. UEFA\u2019s share, approximately 6.5% of net revenue after deductions, has amounted to less than 200 million euros ($217 million) annually.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UEFA\u2019s two-step financial plan to replenish its pandemic-depleted cash reserves begins with the men\u2019s 2024 European Championship, which will be held in Germany, [&hellip;]<\/p>\n","protected":false},"author":137,"featured_media":483991,"menu_order":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"_acf_changed":false,"inline_featured_image":false},"tags":[17082,17368],"news_category":[14236,14235],"gn_keywords":[18422,408],"acf":{"announce":"The European Football Governing Body plans to bring its grants back to healthy status ","video":[]},"rank_math_focus_keyword":"","rank_math_description":"","rank_math_title":"","rank_math_robots":"","rank_math_canonical_url":"","rank_math_facebook_title":"","rank_math_facebook_description":"","rank_math_facebook_image":"","rank_math_twitter_title":"","rank_math_twitter_description":"","rank_math_twitter_image":"","rank_math_snippet_shortcode":"","rank_math_primary_category":"","rankmath_seo":{"focus_keyword":"","description":"","title":"","canonical_url":"","robots":"","facebook":{"title":"","description":"","image":""},"twitter":{"title":"","description":"","image":""}},"_links":{"self":[{"href":"https:\/\/7sport.net\/en\/wp-json\/wp\/v2\/news\/483990"}],"collection":[{"href":"https:\/\/7sport.net\/en\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/7sport.net\/en\/wp-json\/wp\/v2\/types\/news"}],"author":[{"embeddable":true,"href":"https:\/\/7sport.net\/en\/wp-json\/wp\/v2\/users\/137"}],"replies":[{"embeddable":true,"href":"https:\/\/7sport.net\/en\/wp-json\/wp\/v2\/comments?post=483990"}],"version-history":[{"count":1,"href":"https:\/\/7sport.net\/en\/wp-json\/wp\/v2\/news\/483990\/revisions"}],"predecessor-version":[{"id":483992,"href":"https:\/\/7sport.net\/en\/wp-json\/wp\/v2\/news\/483990\/revisions\/483992"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/7sport.net\/en\/wp-json\/wp\/v2\/media\/483991"}],"wp:attachment":[{"href":"https:\/\/7sport.net\/en\/wp-json\/wp\/v2\/media?parent=483990"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/7sport.net\/en\/wp-json\/wp\/v2\/tags?post=483990"},{"taxonomy":"news_category","embeddable":true,"href":"https:\/\/7sport.net\/en\/wp-json\/wp\/v2\/news_category?post=483990"},{"taxonomy":"gn_keywords","embeddable":true,"href":"https:\/\/7sport.net\/en\/wp-json\/wp\/v2\/gn_keywords?post=483990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}