Euro 2024 is taking place in Germany (Picture: Getty)
Euro 2024 will see the finest teams on the continent battle it out for the prize of calling themselves European Champions.
England, owing to the envious array of talent in their squad, were installed as the pre-tournament favourites as they look to claim the top prize in European football for the very first time in their history.
However, they can expect strong competition from the likes of France, Portugal and hosts Germany, who will all fancy going all the way this summer.
Whilst the 24 participating teams will be playing for sporting honour, hoping to get their hands on the iconic Henri Delaunay Cup, the winning team will also earn a sizeable chunk of the total prize money fund on offer.
Euro 2024 prize money
The total prize money pot for Euro 2024 is €331m, which will be shared between the 24 sides.
A huge prize fund has been set aside for Euro 2024 (Picture: Getty)
Each team will be awarded a lump sum of €9.25m regardless of how well they do in Germany.
Nations will be awarded €1.0m for a win and €500,000 for a draw during the group stage.
Those who qualify for the Round of 16 will pocket €1.5m, whilst the eight sides who make it to the quarter-finals will receive €2.5m.
Progress to the semi-finals, meanwhile, will result in a paycheck of €4m.
The runners-up will be awarded an additional payment of €5m, whilst the European Championship winners will walk away with €8m.
Euro 2024 prize money
Round of 16: €1.5m
Quarter-final: €2.5m
Semi-final: €4m
Runner-up: €5m
Winner: €8m
Match bonus: €1.0m for a win and €500,000 for a draw
The maximum amount that the champions could earn, assuming they also win all three of their group stage fixtures, is €28.25m.
It is up to each individual football federation to decide how the prize money is distributed, with off-field members of the travelling party also in line for a windfall.
The prize money for Euro 2020, which was won by Italy on penalties in the final against England, was also €331m.