Bidzina Ivanishvili, Georgia’s influential oligarch, will reward the national football team with $10 million following their historic advancement to the last 16 of Euro 2024, as announced by his ruling Georgian Dream party on Thursday.

Georgia achieved a landmark victory with a 2-0 win over Portugal on Wednesday, marking their first appearance at a major international tournament. Under the guidance of French coach Willy Sagnol, the team advanced from Group F as one of the four best third-placed finishers. They now face a challenging match against Spain, who won all their group games, on Sunday.

The Georgian Dream party issued a statement saying, "Honorary chairman Bidzina Ivanishvili will award Georgia’s football team 30 million lari ($10.7 million) for qualifying for the last 16 of Euro 2024." The statement further added, "An additional 30 million lari will be awarded in case of a win over Spain."

Ivanishvili, the wealthiest man in Georgia, accumulated his fortune in Russia during the 1990s. Although he holds no official government position, he is widely perceived as a powerful figure influencing the country’s political landscape from behind the scenes. In 2023, his designation as the "honorary chairman" of Georgian Dream formalized his authority to select the party’s prime ministerial nominee.

His re-emergence in the political arena has sparked concerns about Georgia potentially drifting away from its aspirations of joining the European Union.