The winner of the 2012 European Championship will receive up to $34 million.

UEFA agreed at its executive committee meeting to put aside $280 million to split between the 16 finalists, an increase of $17 million from Euro 2008.

Each team will receive $11.4 million for qualifying. In the group stage, UEFA will give teams $1.4 million for each of three wins and $715,000 for draws, while the third-place team picks up a $1.4 million bonus.

The quarterfinalists will receive $2.9 million, the semifinalists $4.3 million, the runners-up $6.4 million and the winner $10.7 million.

The European soccer body's executive committee also announced Friday it will extend the ban for players who deliberately incur yellow cards in UEFA competitions to two matches.