UEFA is seeking to increase the value and depth of its relationships with commercial partners. The decision reflects its policy for the Champions' League, which now has just four partners.
The English FA recently trimmed its commercial programme from a dozen major partners to just five.
At the same time McDonald's has signed an estimated £30m deal to associate itself with the Euro 2004 and Euro 2008 events.
The fast-food giant joins Carlsberg, which signed up last month, as a backer of the tournaments. Both McDonald's and Carlsberg were sponsors of Euro 2000.