This is how much the FAI could earn if Ireland qualify out of the group stage at the Euros

The announcement was made in Paris last night

This is how much the FAI could earn if Ireland qualify out of the group stage at the Euros

©INPHO/Morgan Treacy

The FAI could end up with a purse of €11 million if Ireland manage to navigate a way to the knock-out stage of Euro 2016. 

According to Uefa, this tournament will have an overall prize fund of €301 million which represents an increase of over 50% on Poland and Ukraine. However, with 24 teams participating rather than 16, the guaranteed amounts available are the same, meaning that Ireland will have to progress beyond the group stage in order to access the money.

For each group game that Ireland win, the FAI will pocket €1 million and a draw will entitle them to half that amount. Getting to the knock-out phase - even as a third-place qualifier - brings an additional €1.5 million to the table, meaning that the grand total will amount to €11 million if Ireland can maintain their course. The eventual winners of the competition are looking at a handsome sum of up to €27 million.

Meanwhile, Martin O'Neill also looks set to profit from Ireland's qualification for the Euros. He is likely to receive a significant raise on his current €900,000 a year salary when he meets with his employers to discuss a new deal but Ireland will have to do better than their campaign in Poland if the FAI is to improve on the €8 million earned by Giovanni Trapattoni and his backroom team in 2012.