Among the features of globalization and metropolization of development, a growing number of mega-events can be observed. Among them are large sport events, as for instance UEFA 2012 in Poland and Ukraine (in preparation). What impact may such an event have on development? The main aim of this article is to present available conclusions of research on the cost-benefit analysis of previous events of a similar type. The data presented lead to a conclusion that – like in many discussed examples – the balance of EURO 2012 will be most likely negative.