UEFA to name final Euro 2012 profit figures in spring, says Platini

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July 14, 2012, 8:47 a.m. | Sports — by Interfax-Ukraine

UEFA president Michel Platini (L) shakes hands with Spanish forward Alvaro Negredo after winning the Euro 2012 football championships final match Spain vs Italy on July 1, 2012 at the Olympic Stadium in Kiev. AFP PHOTO / FRANCK FIFE

UEFA's profit from the Euro 2012 will be invested in the development of football in Europe, according to UEFA President Michel Platini.

 Answering a question from the Korrespondent weekly on how much UEFA has earned from the championship, Platini explained that the total budget is EUR 1.35 billion on average. UEFA's organizational expenses total EUR 600 million, including EUR 200 million in expenses on participating teams and EUR 100 million, which is split between the football clubs which provided their players during the tournament.

"The remaining funds are spent to cover organizational expenses – security, the leasing of stadia, employees, transport, accommodation, television production, payment for the services provided by host cities, etc. The remaining profit is split in the following way: about EUR 500 million is set aside to finance the development of football in 53 UEFA member countries in the next four years under the Hat-Trick project," Platini said.

In his words, the rest of the funds are spent on UEFA's educational events, in particular, in the spheres of judging and training, as well as on the arrangement of youth and women's competitions in future and on the reimbursement of the UEFA administration's expenses.

"Thus, the profit is reinvested in our mission – the development of football in Europe. But I'd like to note that the final figures on the Euro 2012 will be known in spring 2013," he added.

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