Leadnaija
FIFA has confirmed that the champion of the first edition of the new-format Club World Cup could walk away with a staggering $125 million in prize money.
FĂ©dĂ©ration Internationale de Football Associationâs President, Gianni Infantino announced this in a statement on Wednesday.
The total prize money for the tournament, which will take place from June 14 to July 13, is $1 billion.
FIFA has now shared how the money will be divided among the 32 participating teams.
Each team will receive a share of the $525 million set aside for participation. Another $475 million will be given out based on how well teams perform in the competition. The winning team, after playing seven matches, could take home a maximum of $125 million, including extra bonuses.
European clubs will receive the largest share of the prize money. Each club will get between $12.81 million and $38.19 million, depending on sporting and commercial factors.
South American teams will each get $15.21 million for participating. Teams from North and Central America, the Caribbean, Asia, and Africa will receive $9.55 million each. Auckland City, the only team from Oceania, will be awarded $3.58 million for taking part in the tournament.
âThe distribution model⊠represents the biggest prize money ever awarded to a competition comprising a group stage and a knockout phase.
âIn addition to the prize money earmarked for the participating clubs, an unprecedented solidarity programme will be put in place with the aim of redistributing an additional $250 million to football around the world,â Infantino said.Rea-all-news
Infantino also stated that all revenue from the tournament would be used to support club football.
