It's been all joy and celebration since the Lionesses took victory in the Women's Euros.
The team came together in a tense final against Spain to win the title of European Champions on penalties.
Once back in England, they were honoured with an open-top bus parade through London and a ceremony at Buckingham Palace.
But the stars of Sarina Wiegman's winning team might lose a large chunk of their prize money, which already pales in comparison to that of their male counterparts.
How much is the Euro 2025 prize money?
UEFA offered a record amount of prize money for the 2025 Women's Euros. A whopping £34 million was on offer for the 16 teams competing in the tournament.
All teams were granted a £1.5 million participation fee for qualifying.
© GettyThey could then receive performance bonuses: £43,000 for a draw and £86,000 for a win in the group stages, with other bonuses for the quarter-finals and semi-finals.
That means there was a staggering £4.4 million on offer for the champions, including bonuses, if they won all three of their group stage matches, which England did not.
Players were guaranteed a share of the money, as each national association had to allocate between 30% and 40% of its total tournament earnings to its players.
How much will the Lionesses lose - and why?
Tax, accounting and business advisory firm Blick Rothenberg has called the Lionesses' Euros victory "a big win for HM Revenue & Customs (HMRC)".
Robert Salter, Director at the firm, warned that the Lionesses could lose over £750,000 to tax.
"The Lionesses will be delighted with their win at Euro 2025 for what it represents and the hard work that went into it, but they will have a hefty tax bill to pay to HMRC on their prize money, at a combined total tax and National Insurance Contributions (NIC) liability of roughly £788,900 for the whole squad," he said in a statement on the company's website.
© GettyAccording to Blick Rothenberg, the average bonus per player came to around £73,000, meaning that each of them would be subject to an income tax rate of 47 - 45% and 2% NIC.
All in all, this could mean each Lioness has to pay around £34,000 in tax.
How does this compare to the men's prize money?
Although the 2025 tournament had this record-breaking amount of money on offer, marking a 156% increase from the 2022 Euros, there is still a notable gap between the men's and women's tournaments.
© GettyWhile the women's tournament had £35 million on offer in total, the prize money on offer at last year's men's Euros was around £287 million.
The England men's team, who reached the Euro final in 2024, could have taken bonus winnings of £14 million had they won - compared to the £1.5 million available to the Lionesses.
