Georgian billionaire pledges mind-blowing gift to Euro 2024 squad after they reach knockouts

A billionaire has offered a staggering gift to the players and staff of Georgia after they beat Portugal to reach the knockout stage of Euro 2024.

On Wednesday Georgia produced one of the biggest shocks in international football history by beating Portugal 2-0 in Gelsenkirchen.

The team ranked 74th in the world knew they had to overcome Cristiano Ronaldo's side in order to qualify for the round-of-16 in their first ever major tournament.

That's exactly what they did, with Napoli star Khvicha Kvaratskhelia putting Georgia ahead after less than two minutes before striker Georges Mikautadze converted from the penalty spot after half-time.

The final whistle sparked wild celebrations from players and fans inside the Arena AufSchalke, as well as back home on the streets of Georgia's capital, Tbilisi.

Not only did the monumental achievement give their fellow countrymen something to celebrate after the last few years of political turmoil, but it also earned them a staggering bonus.

Georgian billionaire Bidzina Ivanishvili has promised the national team players and staff a £8.4 million bonus for reaching the knockout stages.

Ivanishvili, who founded the ruling Georgian Dream political party and briefly became prime minister of the country in 2012, has an estimated wealth of £3.87 billion, making him the world's 633rd richest person.

The 68-year-old described Georgia's win against Portugal as a "historic and dream victory", and has ever pledge a further £8.4m to the players and staff should they beat Spain in the last-16.

Ivanishvili made his fortune in Russia in the 1990s following the break up of the Soviet Union with investments in banking, computers and metals.

The oligarch lasted just 12 months as Georgia's prime minister before stepping down, but he has maintained an influence in the country's ruling party as chairman and now honorary chairman.

Earlier this year, many of Georgia's players spoke out against the Georgia Dream party after the 'foreign agents' bill was announced.

The bill - which critics say infringes of civil liberties - sparked huge protests in Tbilisi, but it was eventually passed into law.

Georgia will face Spain in the last-16 of Euro 2024 on Sunday in Cologne.