Glasgow is committed to remaining a host city when the postponed European Championships is held next year.
Governing body UEFA has put back Euro 2020 due to the coronavirus pandemic, with the football tournament now expected to start on June 11, 2021.
The city council will pay an extra £200,000 towards holding four fixtures, bringing the authority’s total contribution to £3.7m of the £6.2m host city budget.
It is hoped the rearranged tournament will provide a “welcome boost” to businesses struggling following the pandemic as an estimated £10m economic impact could be generated by visitors to the city.
Council chiefs are being asked to reaffirm the city’s commitment to hosting the event when they meet via teleconference on Thursday.
The major football championship was set to take place in 12 cities across Europe from June 12 to July 12.
Members of the Glasgow Events Board have already agreed the city will remain part of the tournament in 2021 “on the condition of a reshaped funding package from the partners and a renegotiation of a number of legal obligations with UEFA in support of budget savings”.
A paper outlined between £1m and £1.3m of funding was needed, including a leftover requirement and additional costs due to the postponement.
After negotiations with funding partners, the council will pay an additional £200,000. Money will also be provided by the Scottish Government, the Scottish FA and VisitScotland.
A report by Martin Booth, the council’s executive director of finance, states: “This reshaped funding package, together with the savings target, projects a balanced host city budget and no residual funding requirement.”
It adds: “The economic and social benefits to Glasgow and Scotland from hosting Euro 2020 remain the same in 2021 as those highlighted at bid stage.
“It is estimated that £10m economic impact will be generated through the visitor economy and social impact will be created through the community engagement activities (Football Festival, volunteer programme, Trophy Tour and Fan Zone cultural programme).
“In addition, it is anticipated that following the current health emergency, Euro 2020 will make a significant contribution to creating a festival atmosphere once again in the city centre, provide an opportunity for communities to gather and celebrate together and provide a welcome boost to businesses in the city following an exceptionally difficult year. “
Glasgow will send a letter to UEFA confirming its position as a host city in 2021 on April 30.
By Local Democracy Reporter Drew Sandelands