The increase comes after the competition was expanded from 16 to 24 teams, which in turn meant an additional 20 matches were played and UEFA was able to generate more revenue from media rights.
With the total costs for the event ammounting to €1.1bn, the profit came in at €830m, with €600m going to UEFA’s 55 member associations for the period from 2016 until 2020. UEFA will retain the remaining funds to help fund organisational costs over the same period.
The Executive Committee have voted to approve the creation of a ‘Compensation Committee’, which will now oversee matters related to the remuneration of UEFA senior management, including the president, Executive Committee members and the general secretary.
The committee will comprise the chairman of the Finance Committee, a member of the Governance and Compliance Committee, and an independent expert with experience in compensation and governance matters.