FIFA announces largest prize in football for Club World Cup

LONDON: Football governing body FIFA announced details of what will be the largest prize pot in club football for the newly-expanded Club World Cup 32-team tournament.

As well as committing US$1 billion for the teams participating, FIFA is understood to be setting aside an additional US$100 million for solidarity payments to clubs who have not qualified.

"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. FIFA's reserves, which are there for global football development, will remain untouched."

The revamped Club World Cup will take place in the United States, beginning on June 14 and running until July 13.

Notable European teams to feature include Real Madrid, Bayern Munich, Paris Saint-Germain, Inter Milan, Juventus, Manchester City, Chelsea and Atletico Madrid.

It is not yet clear how much clubs will receive for their participation but it will be a significant windfall.

The funds have been guaranteed after a broadcasting deal was reached with streaming platform DAZN last year.

The tournament has been a controversial addition to the calendar, particularly in European circles, due to concerns about player workload in an already crowded schedule. The finalists will play seven matches.

There has also been limited enthusiasm in Europe for an event perceived as lacking the intensity of the Champions League.

--BERNAMA-PA Media/dpa

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