Portugal secured its first European Championship title after scoring one goal in the 109th minute of the finale against France, host of the Euro 2016 soccer championship, which ended Sunday.
The loss of the French on their own land was devastating. And despite reportedly deploying more than 90,000 police, soldiers and private security agents to secure the tournament, violent clashes that tainted the opening days of the championship and posed a threat to its continuation. Despite all the disturbances, the country reaped the benefits of hosting such an international sports event, its first since the 1998 World Cup.
The country hosted games of the month-long championship across 10 cities and stadiums, including Bordeaux, Lens, Lille, Lyon, Marseille, Nice, Saint-Denis, Saint-Etienne, Toulouse and the capital of Paris distributing the fans’ excitement, and economic benefits, across the country.
The tournament was regarded as France’s golden opportunity to revive its tourism sector, after it took a hard hit following terror attacked that took place in November last November, from which the country is still trying to recover.
Costing 1.1 billion euros, the revenue of the championship rose by 34 per cent, reaching 1.93 billion euros ($2.13 billion) from Euro 2012, the European soccer authority UEFA announced during the tournament.
This increase was due to a number of factors, including the expanded format of the championship, which this year included 24 teams, up from only 16 teams in 2012, bringing the total number of games played in the 2016 championship to 51, up from 31 games played in 2012.
The total revenue is broken down as follows: 1.05 billion euros came from television rights, with more outlets buying rights to broadcast the games across different regions of the world; 480 million euros came from licensing and sponsorships, which increased by 50 per cent from 2012, and 400 million euros came in from ticketing and hospitality, the UEFA statements explained.
Euro 2016 income amounted to 830 million euros, with 600 million euros going to the 55 UEFA member associations from the period from 2016 – 2020. The remaining goes to the governing body to cover organizational costs over the same number of years.
UEFA expects to generate a record profit of $917 million from Euro 2016, it most ambitious forecast so far for the successful tournament.