Organized by UEFA, the event is expected to generate €2.4 billion in revenue, mainly from TV and marketing rights. Sponsorships from major companies like Adidas, Coca-Cola, Alibaba, and Qatar contribute significantly. Ticket and hospitality sales add to this, while expenses are estimated at €650 million, including €331 million in prize money. UEFA anticipates a profit of €1.7 billion, tax-free due to an agreement with the German government, which also covers €600 million in hosting costs. The 10 host cities will spend €26 million on festivities, with €165 million on stadium renovations and €150 million on security. Despite these expenses, the tournament is expected to boost tourism, with hotels, breweries, and retailers benefiting from increased spending on accommodation, beer, food, merchandise, and electronics.
Vocabulary:
• A pitch (noun): A field or area where sports are played.
• Hospitality (noun): Friendly and generous treatment of guests.
• Silver lining (noun): A positive aspect or good thing in a bad situation.
• Revenue (noun): Money earned from business activities.
• Sponsorship (noun): Financial support given by a sponsor.
• Contracts (noun): Agreements between two or more parties.
• Refs (noun): short for referees.
• Expenses (noun): Costs incurred in the process of earning revenue.
• Infrastructure (noun): Basic physical systems of a business or nation.
• Profits (noun): Financial gains after all expenses are subtracted.
• Tax-free (adjective): Exempt from taxes.
• Privileges (noun): Special rights or advantages.
• A pit (noun): A deep hole.
Source: DW News YouTube channel.