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Wales and England are among seven countries who are interested in bidding to host the Euro 2020 final and semi-finals.
Football Association general secretary Alex Horne believes that Istanbul is the front-runner, but proposals have been put forward for Wembley Stadium and the Millennium Stadium to host a game in 2020.
Germany, Spain, Belgium and Ukraine have all declared an interest to host part of the tournament, which is being played in 13 different cities across Europe.
Horne insists that Istanbul is now favourite for the big games after losing its bid to host the 2020 Olympics.
The general secretary has admitted that hosting group games would also be important, and England could host two should they qualify for the tournament.
Horne said: “There are several countries bidding for the final, and from our soundings you do sense there is a sympathy for Turkey with Istanbul having not got the Olympics.
“They are the front-runners but the prize of group games and a quarter-final or knockout match would be significant. It would mean two home games for England in the group, though we would still have to qualify.”
Alongside Wales and England, Scotland and the Republic of Ireland have also declared their interest.
Countries that are interesting in hosting in 2020 have until April to decide whether they want to formally bid and submit a candidate dossier, with UEFA’s executive committee set to make a decision on the 13 host cities in September next year.