UEFA announce increase in prize money for European competitions
UEFA have announced on Tuesday that the funds for competing in either the Champions League, Europa League and UEFA Super Cup will see a huge increase of £787million next season.
The previous year saw clubs being given a share of £2.06billion. However, that is set to increase to £2.84bn.
Of that larger figure, £457million will be deducted to pay for organisation costs and solidarity payments.
For next season's Champions League, the total sum of £1.71bn will be split into four categories.
Each of the 32 clubs that qualify for the group stage can expect to receive a minimum of £13.34m each. Group stage performances will then be rewarded with £2.36m for a win and £787,000 for draw.
For the knock-out ages, clubs will receive £8.31m for reaching the Round of 16, £9.19m for the quarter-finals, £10.5m for the semi-finals and £13.12m for reaching the final. The winner will then receive an additional £3.5m.
Clubs competing in the Europa League next season will receive a share of £490m, an increase from £350m last season.