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Soccer bid victory worth $737m

Hosting the Euro 2008 football championships in Scotland could result in a boost of up to £500m ($737m/B

The figures emerge following a study into the financial, sporting and
cultural benefits to the UK of bringing the tournament to Scotland in 2008, based on what bid chiefs term the ‘optimum scenario’ of a six-stadia bid.

Bid organisers are already claiming a number of unsolicited approaches by potential business sponsors who want to get involved in the bid.

Simon Lyons, marketing director for Scotland's Euro 2008 bid, said: "Successfully bidding for the Euro 2008 championships will deliver three key benefits for Scotland and Britain.

“Firstly, it will deliver a true sporting treat for the fans - with the host nation automatically qualifying for the final round of the championship tournament.

“Secondly, it will provide a quantifiable business boost to the UK and Scottish economies.

“Thirdly, there will be future and ongoing marketing benefits worldwide for Scotland and the UK from hosting one of the world's top three sporting events."

Scottish First Minister, Henry McLeish, added: "We are determined to build for the future in terms of economic prosperity.

“There may well be difficult times ahead with a global downturn in tourism and foreign travel because of the current world climate.

"This makes it all the more important to look to the longer term and adopt a confident and ambitious outlook. Hosting Euro 2008 would bring much enjoyment and satisfaction to Scotland and what this report shows is that it would also bring huge economic benefits.

"We recently secured one of the world's top sporting events, the Ryder Cup, for 2014. Euro 2008 is an equally big prize. We will continue to work hard and put the foundations in place for a successful bid."

The cost-benefit analysis was carried out by DTZ Pieda, an independent firm of economic consultants on behalf of Scotland's Euro 2008 bid team.