(Football news) One of the favorites to win this year’s coveted award is thought to be England, but other contenders include holders Italy, the Netherlands, France, Portugal, Spain, and the host country, Germany.

There will be 51 games in total during Euro 2024, with 36 of those games taking place in the group stage before 16 countries advance to the knockout stages. The tournament will begin on June 14 and end on July 14.

While one nation will celebrate a career-defining moment when they lift the Henri Delaunay Cup at Olympiastadion Berlin, every team will be battling for large sums of prize money throughout the tournament.

Following the approval of the UEFA Executive Committee in December last year, the amount for distribution to the participating teams at Euro 2024 has been confirmed at a total of €331m (£282.87m) – the same as Euro 2020.

The 24 nations that have successfully qualified for Euro 2024 will automatically receive €9.25m (£7.93m) before a ball is even kicked.

Each team will receive a match bonus of €1m (£860,000) for a group-stage win and €500,000 (£429,000) for a draw, while there is no prize money awarded for a defeat. The minimum a nation could therefore earn is €9.25m (their participation reward) if they fail to win all three of their group-stage matches.

Every nation that advances to the round of 16 will receive €1.5m (£1.29m), and the reward for going deeper into the tournament will increase each round.

Teams that reach the quarter-finals will receive €2.5m (£2.14m), and €4m (£3.43m) will be awarded to those that progress to the semi-finals, while the champions of Euro 2024 will receive €8m (£6.86m). As for the losing finalist, they will go away with €5m (£4.29m).

The maximum a nation could earn from Euro 2024 is €28.25m (£24.23m) if they win every game en route to winning the tournament.

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