Prize money, club pay-outs and bonuses: The financial side of Euro 2024

There's prize money to play for as well as pride in Germany this summer.

Prize money, club pay-outs and bonuses: The financial side of Scotland at Euro 2024 SNS Group

Scotland’s players head to Germany hoping to make their mark at the Euros and make the country proud by reaching the knockout stages and delivering memorable moments in Munich, Cologne and Stuttgart.

But while national pride and a competitive edge will fuel the players in their matches against the hosts, Switzerland and Hungary, there’s also a big financial benefit to reaching the finals.

Steve Clarke’s side didn’t just earn a place among Europe’s best sides, they also secured a significant amount of prize money.

The Scottish FA can look at some guaranteed and some potential income, but will also have some major expenses, while players and clubs will also benefit from involvement.

Payments for qualifying, and points mean prizes

UEFA have put together a pot of €331m for the nations participating in the finals, with the prize money rising through each stage of the competition.

For reaching the finals and taking part in the group stage, Scotland and the other 23 nations each earn €9.25m (roughly £7.85m).

That amount is guaranteed even if a team loses all three group stage games but any success on top of that is rewarded.

A win in the group stage earns a further €1.0m (around £850,000) and a draw adds €500,000.

The new tournament format means that 16 of the 24 teams in the group stage progress to the knock-out stages and Steve Clarke’s side hope to make history by being one of them.

A place in the last 16 banks another €1.5m and getting through that game to make the quarter-final stage would add another €2.5m to the team’s prize pot.

As you would expect, there’s another sharper increase for the last four, with each semi-finalist earning another €4m, while the runners-up take a consolation of €5m more and the winners receive a prize of €8m along with the Henri Delaunay trophy.

Where does the money go?

SFA funds support all levels of the game in Scotland. (Photo by Rob Casey / SNS Group)

Roughly a third of the €9.25m prize money for qualification will go into the Scottish FA coffers, with that amount increasing with any progress made in Germany.

The governing body uses funds for a wide variety of purposes, including supporting grassroots football, putting in place a framework and licensing for coaches, training and providing match referees, maintaining the national stadium and generally running the game in Scotland.

A large chunk of the money earned will go on participating in the tournament itself. The Scottish FA will not only take a 26-man playing squad and coaches to Germany but also all the support staff required for a top-level event.

Reservations will have been made with the hope that Scotland will be in the tournament beyond the group stage, meaning the hotel and training camp will have been booked right through until the final, just in case.

Rewarding the players

Scotland players will share a bonus for qualification. (Photo by Craig Williamson / SNS Group)

Scotland players don’t get paid for representing their country and all of those who have turned up for international duty over the years have played because they want to answer the call rather than for financial gain.

However, a bonus is paid for qualifying for major tournaments, so the Scottish FA will be making a payment for only the second time in 25 years.

The bonuses are split into two categories, with a line being drawn between qualification and the finals. The first tranche is shared between every player who featured in qualifying, from the first game against Cyprus to the last game against Norway.

The second portion of the bonus will go to the players who travel to Germany this month. Being there for the three group games ensures a base level bonus but gaining points and reaching the knockout stages will mean the financial benefits will be shared.

Club compensation

Celtic are sending more Scotland players to the Euros than any other club. (Photo by Craig Williamson / SNS Group)

UEFA don’t just make payments to national associations for their participation in the Euros, they also share some of the revenue with the clubs who send their stars to the tournament.

Under what is known as the Club Benefits Programme, the European governing body compensates clubs based on how much time they spend with their national team.

The scheme has already run through previous tournaments, and through this season’s Nations League and qualifying matches, with UEFA confirming that the distribution system would be largely unchanged from Euro 2020.

Final details have yet to be confirmed, other than an announcement that the total amount paid to clubs for the finals would rise from €130m to €140m.

That pot of money is paid on the basis of a fixed amount per player per day. Payments start from 10 days before a team’s first match at the finals and extend until a day after they are eliminated (or lift the trophy).

To recognise the difference in wages and value at different teams, the clubs are split into three categories, with a different level of compensations for each.

For Euro 2020, the amount per player per day was: 

– Category 1 Club: € 8,700

– Category 2 Club: € 5,800

– Category 3 Club: € 2,900

So a category 1 team that sends a Scotland player to the Euros for the group stages could expect to receive around €182,000, and more every day if the team progress.

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