Vienna - Champions League and Europa League clubs will share more than 1.6 billion euros ($1.7 billion) in prize money from next season in a huge new boost to their coffers, UEFA announced Monday.
The Champions League treasure chest will rise from one billion euros now to 1.25 billion euros for the next three seasons. Europa League clubs will see their pot increased from 232 million euros to 380 million euros.
With extra "solidarity" payments, UEFA will give out a total of 2.24 billion euros each season from its Champions League and Europa League television and marketing revenues, general secretary Gianni Infantino said.
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Infantino told a press conference after a UEFA executive meeting that the amounts could be even higher as some contracts are still to be negotiated.
Currently each team in the Champions League receives a minimum of 8.6 million euros, boosted by performance bonuses such as one million euros for each win in the group stage up to 10.5 million for winning the final.
The winner of this year's final could get 37.4 million euros in all, plus a share from a 400 million euro television rights pool.
Infantino said full details of the new payments would be released at the European Club Association assembly in Stockholm next week.For the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page.