Portugal will not host Euro 2020 matches

Portugal has officially confirmed it will not put forward a bid to be one of the hosting countries of Euro 2020, to be played in a number of European nations.
The decision was prompted by borough councils Porto and Lisbon – the country’s only cities with the infra-structures required by European football authority UEFA.
Both municipalities have decided “not to apply” – Porto justified the move due to financial reasons, whilst Lisbon has yet to explain its motivation.
According to Diário de Notícias, the Portuguese Football Federation (FPF) has released a statement expressing its understanding.
“The councils’ decision is perfectly legitimate,” it said, adding that “it is up to local authorities to consider the investment required and the possible profit generated from applying to host the competition”.
Explaining its decision, Porto council told Lusa news agency earlier this month that “the competition would not guarantee the minimum amount of profit required by the municipality”.