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Sport England players will share £12m if they win Euro 2020

02:00  11 june  2021
02:00  11 june  2021 Source:   dailymail.co.uk

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Harry Kane et al. standing in front of a crowd: MailOnline logo © Provided by Daily Mail MailOnline logo

England's players will share bonuses worth up to £12million if they win the European Championship, but will not receive any of the money until autumn.

Under the terms of a £175m Bank of England loan to help them mitigate the pandemic's impact, the FA are prohibited from paying any bonuses or dividends until the debt has been repaid, which will not be until September at the earliest.

Arsenal opted to repay a £120m loan from the Bank of England early last month to give them greater flexibility in the transfer market.

Harry Kane et al. playing a game of football: England's players will share a £12million bonus if they manage to win Euro 2020 this summer © Provided by Daily Mail England's players will share a £12million bonus if they manage to win Euro 2020 this summer Gareth Southgate in a blue shirt: Gareth Southgate will also get a six-figure bonus on top of his £3m salary if the Three Lions win © Provided by Daily Mail Gareth Southgate will also get a six-figure bonus on top of his £3m salary if the Three Lions win

But the FA have no plans to alter the terms of their loan, which was secured through the Government's Covid Corporate Financing Facility (CCFF).

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Sportsmail has learned that September is the earliest date the FA can repay the full loan without re-financing, with bonus payments on hold until next season.

The potential bonus pot is the biggest that has ever been available to England's players at a major tournament due to UEFA increasing their total prize fund to £393m, a 24 per cent rise on the 2016 tournament.

Prize money is paid incrementally depending on each nation's progress. The winners will receive a maximum of £30m if they win every group game.

UEFA have increased their total prize fund to £393m, a 24 per cent rise on the 2016 edition © Provided by Daily Mail UEFA have increased their total prize fund to £393m, a 24 per cent rise on the 2016 edition

Under terms of an agreement negotiated between the FA and England's leadership group, the governing body will keep 60 per cent of prize money, with 40 per cent paid to players in bonuses.

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All 24 competing nations have received £8.5m from UEFA for qualifying with further payments dependent on performances.

A group stage win is worth £1.3m, and the finalists will be competing for a prize of £8.6m having already earned £6.5m for reaching the final.

a group of people playing football on a field: Each England player will pocket £461,000 each should they be victorious come July 11 © Provided by Daily Mail Each England player will pocket £461,000 each should they be victorious come July 11

The £12m pot on offer to England's players averages out at £461,000 a man, which dwarfs the £217,000 they received in bonuses for reaching the World Cup semi-finals three years ago.

The players also receive match fees of £2,000 for each appearance which are donated to charity.

In addition, players will be handed appearance fees for commercial commitments worth tens of thousands of pounds.

Gareth Southgate will receive six-figure bonuses on top of his £3m salary linked to performance.

Chris Sutton, Gordon Strachan, Peter Crouch, Steph Houghton, Jamie Redknapp, Martin Keown posing for the camera © Provided by Daily Mail Read more

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