FIFA declared on Wednesday that participants in this year's Club World Cup in the United States will receive combined prize money of one billion dollars.
"The FIFA Club World Cup will not only be the pinnacle of club football, but also a vivid demonstration of solidarity that will benefit clubs at large to a scale that no other competition has ever done," said FIFA president Gianni Infantino.
"All revenue generated by the tournament will be distributed to the participating clubs and via club solidarity across the world as FIFA will not keep a single dollar."
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This sum substantially exceeds the prize money allocated for both recent men's and women's World Cup tournaments.
The global football authority has provided limited information regarding the financing of this inaugural 32-team competition, scheduled to occur quadrennially, though it has recently secured agreements with a broadcaster and major sponsors.
FIFA's statement confirming the prize money allocation indicated an anticipated revenue of $2 billion from the expanded Club World Cup. Additionally, they confirmed the introduction of a women's edition beginning in 2028.
DAZN, the British streaming platform, secured worldwide exclusive rights to the tournament scheduled for June 14-July 13, with insider sources indicating the deal value approximated one billion euros ($1.05 billion).
FIFA has established additional sponsorship agreements with several major corporations, including Coca-Cola, Bank of America, Chinese electronics manufacturer Hisense, and AB InBev, the Belgian brewing company.
For reference, the 2022 men's World Cup in Qatar distributed $440 million in prize money, whilst the 2023 Women's World Cup in New Zealand and Australia offered $110 million.
The UEFA Champions League's revised 36-team structure for this season will distribute total payments of 2.47 billion euros ($2.66 billion) amongst participating clubs.
(With AFP inputs)
