The UK and Ireland’s bid to host Euro 2028 has been formally approved, UEFA has announced.

Ten stadia across the five nations will host the matches in five years’ time, with analysts projecting a three billion euro (£2.6bn) boost to the host nation economies on the back of the tournament.

The bid was unopposed after Turkey withdrew to focus on a joint bid for the 2032 finals alongside Italy, and it was given the official seal of approval by UEFA’s executive committee on Tuesday morning.

Wembley is set to host the final – and potentially both semi-finals – with the other English venues included in April’s final bid submission being the Tottenham Hotspur Stadium, the Etihad Stadium, Villa Park, St James’ Park and Everton’s new ground at Bramley-Moore Dock.

Cardiff’s Principality Stadium, Hampden Park in Glasgow, Dublin’s Aviva Stadium and a redeveloped Casement Park in Belfast will also host matches.

All five nations are expected to go through qualification for the tournament, with UEFA understood to be reserving two host nation places for any of the teams which do not make it on merit.

The UK-Ireland bid would have been the overwhelming favourite to host Euro 2028 even if Turkey had remained in the race. Senior UEFA sources have repeatedly stressed the importance of hosting another European Championship in a major market – following on from Euro 2024 in Germany – as essential to boosting UEFA’s finances in the wake of the Covid-19 pandemic.

There will still be issues for the bid team to resolve over the next five years however – with agreement still to be reached on who will fund the redevelopment of Casement Park.

Plans for a 34,000 stadium have been delayed by legal challenges and are further complicated by the lack of a functioning Executive at Stormont.

Costs have also risen from an original estimate of £77.5million to more than  £100m. The GAA is part-funding the project but has not reached an agreement with Stormont over where the remainder will come from.

Tuesday’s decision means England will be involved in hosting a Euros for a third time. They hosted alone in Euro 96 and were one of 11 countries involved in staging the continent-wide Euro 2020.

The UK and Ireland associations first announced they were focusing on a bid for Euro 2028 in February last year.

It had been expected that they would bid for the centenary World Cup in 2030 but Football Association chief executive Mark Bullingham admitted at the time there were “many areas of uncertainty” with doing so, leading to the switch in focus.

The UK and Ireland’s bid to host Euro 2028 is set to be officially approved later today.

Turkey’s withdrawal to focus on a joint bid with Italy to host Euro 2032 leaves the five-nation bid unopposed to host the tournament in five years’ time, with former Wales forward Gareth Bale adding a sprinkling of stardust to the presentation that will be made to UEFA’s executive committee alongside six youth ambassadors.

It emerged on Monday that England had requested to go through qualification for Euro 2028.

UEFA has reserved two ‘safety net’ host-nation berths should any of the five UK and Ireland bidders not qualify on merit, but the Football Association is understood to have already told UEFA that England are keen to go through qualification.

The FA is keen to keep the team competitive on the run-up to the finals, with Germany having struggled in friendly action in the build-up to Euro 2024. There are also concerns over the level of opposition they would be able to secure if they were limited to friendlies.

If more than two of the five hosts do not make it, only the two with the best record will secure host places. So there are no guarantees all five will be involved in the finals.

Ten stadia were included in the UK-Ireland’s bid submission in April. Six of the venues are in England, with one each from Northern Ireland, the Republic of Ireland, Scotland and Wales.

The six in England are Wembley, the Tottenham Hotspur Stadium, the Etihad Stadium, St James’ Park, Villa Park and Everton’s new home at Bramley-Moore Dock.

A redeveloped Casement Park in Belfast, the Aviva Stadium in Dublin, Hampden Park in Glasgow and the Principality Stadium in Cardiff are the other stadia included in the submission.

Even with Turkey in the running, the five-nation bid was the overwhelming favourite to be selected.

Senior UEFA sources have indicated the importance of another Euro in a major football market, following on from next year’s tournament in Germany, as European football’s governing body seeks to further replenish its reserves after the financial shock of the Covid-19 pandemic.

The five nations released a joint statement last week following Turkey’s withdrawal, stating they had a “compelling” and “ground-breaking” proposal for UEFA to consider, which would deliver “lasting legacies” across the whole of Ireland and the UK.

Bid leaders estimate that the 2028 tournament is projected to generate around three billion euros (£2.6 billion) of economic benefit for the five host nations.