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Italy are set to pocket an astronomical €34 million for winning the Euro 2020 final against England at Wembley Stadium on Sunday, according to The Quint.
By winning the summit clash on July 11, Italy were awarded a prize money of €10 million on the day of the final. However, the Azzurri claimed the remaining millions by qualifying and making it through to various other rounds of the tournament. Since Italy won all three games in the group stages as well, they are expected to pocket the maximum prize money available to a team.
The total prize money is excluding all the money Italy would have earned from their numerous sponsors and commercial partners.
According to the aforementioned source, UEFA had increased the total prize money of Euro 2020 by 23% from Euro 2016. This is surprising as there has been a year's delay in the tournament's start and a global economic downfall due to the ongoing COVID-19 pandemic.
This meant that the total prize money between the 24 participating nations at Euro 2020 was a staggering €371 million. All participating countries will receive €9.25 million if they qualified for the group stages of the tournament.
Making it through to the Round of 16 will fetch another €2 million while a quarter-final appearance is worth €3.25 million. A semi-final place will earn a team an additional €5 million.
Italy, as the winners of Euro 2020 would receive €10 million, while the runners-up England will get €7 million.
Also Read: David James' column - Euro 2020: 5 players who deserve more playing time
England set to donate their Euro 2020 prize money to the NHS
According to the aforementioned source, England has decided to donate their Euro 2020 prize money to the country's health service, the NHS. The decision was taken prior to Sunday's final against Italy.
This comes after Liverpool captain Jordan Henderson began an initiative called #PlayersTogether last year to donate large amounts to the NHS to help the UK fight against the COVID-19 pandemic.
The FA are set to earn close to £20 million for reaching the Euro 2020 finals. 40% of the total prize money will be disturbed amongst the 26-man squad which guided England to an historic run that saw the Three Lions reach their first major final since 1966.
