A STUDY into the financial effects of Euro 2008 has said the economic impact of tomorrow's final could be worth €300 million, with Germany and Spain enjoying benefits far outstripping their teams' prize-money.

The report estimated the nation whose side become champions will gain more than €90 million in knock-on effects. These include sponsorship deals, television rights, growth in ticket and merchandise sales.

The study, commissioned by tournament sponsors MasterCard and carried out by Coventry University, said the losing nation could expect an economic boost of more than €40 million, not including prize money.

Spain are set to pick up €23 million in total prize money if they beat Germany in the final, while a win would see the Germans taking home €22 million. A runners-up place would guarantee a total of €20 million for Spain and €19 million for Germany. The discrepancy in the winnings is due to Uefas prize money system which rewards teams for their performances in the tournament.

The study estimated Vienna would enjoy short and long-term gains of more than €100 million purely for hosting the final.