Paris - UEFA announced on Friday that there will be a substantial increase in prize money for the nations competing at the Euro 2016 finals in France.
Ahead of Saturday's draw in Paris for the first ever 24-team finals, European football's governing body said the total prize fund had gone up to €301 million from the €196 million shared by the 16 nations at the 2012 finals in Poland and Ukraine.
Every competing nation will receive €8 million just for taking part, with performance bonuses of €1 million for a win and €500 000 for a draw in the group stage.
After that, teams reaching the knockout phase will each get €1.5 million in the last 16, €2.5 million for reaching the quarter-finals and an extra €4 million for getting to the semi-finals.
For the final, which will be played at the Stade de France on July 10, the winners will receive €8 million while the runners-up will pocked €5 million.
"This means that, if the winners of the title have also won all three of their group matches, the total prize money they earn will amount to €27 million, compared with €23.5 million in 2012," said a UEFA statement.