The Icelandic Football Association received EUR 6 million (ISK 821 million, USD 6.6 million) for its performance at the EURO 2016, but it had previously received ISK 1,1 billion (USD 8.9 million, EUR 8 million ) for earning the right to participate in the Euro cup, mbl.is reports.
Geir Þorsteinsson, head of the Icelandic Football Association states that this is a great contribution to Icelandic football.
In the association’s annual report, financial support of EUR 8 million is expected from UEFA because of the Euro cup, but the Icelandic men’s national football team’s great success at the championship results in an additional support of EUR 6 million. A net profit from the EURO 2016 is about ISK 1.9 billion (USD 15.5 million, EUR 14 million).
According to Geir, no decision has been made regarding how the funds will be allocated, but the idea is to use part of them for football activities and to support affiliated clubs, which count 154.
It is, however, clear that a large part of the money will go directly to players and coaches. Those amounts are, according to Geir, confidential. He states the payment model is similar to the one in Sweden and Denmark.
Geir told mbl.is that the funds will make a big difference for Icelandic football, and he hopes that Icelandic football clubs will benefit greatly.