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By ESPN Staff

Euro 2004 prize money up 66 per cent

NYON, Switzerland, Nov 6 (Reuters) - The winners of next year's European Championship in Portugal could bank as much as SFr20million ($14.63million) after UEFA announced an increase in the tournament's prize fund on Thursday.

In all, a record amount of prize money is on offer, up 66 per cent on Euro 2000 from SFr120million to SFr200million.

Each country that qualifies for Euro 2004 will be paid SFr7.5 million, with SFr1million Swiss francs awarded for a first round victory. That money is halved for a draw.

The eight quarter-finalists will each receive a further SFr3million, with another SFr4million being paid for reaching the last four.

The winners get a further SFr10million, while the runners-up will be awarded SFr6million.

The maximum prize money a team could pocket from the tournament is SFr27.5million - SFr7.5 million for getting to the tournament and a further SFr20.0 million for winning it having won all three group matches.

The decisions were taken by UEFA's executive committee and announced after their two-day meeting in Kiev.