Competition among countries for hosting major sport events - such as FIFA World Cup, Olympic Games and UEFA Euro Cup - is getting harsher year by year. Money spent by countries and sport associations on these events are increasing steadily as well as the interest among business community, interest groups and media. This book presents a Cost Benefit Analysis for Italy as hosting country of UEFA Euro Cup in 2016, trying to answer - by using an economical eye - to the question “Does it worth to bid?”. The theoretical framework of Cost Benefit Analysis is completed with the most up-to-date sport economics findings and literature. The results, implications and limits of the analysis are described in a simple and direct manner, and conclusions on the costs, benefits and transfers within the society are concisely presented. In a political world where accountability plays a major role, this paper aims at helping politicians to take decisions on major sport events once aware of monetary and non monetary effects such events would have on their countries.