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New Delhi, Delhi, India
UEFA has witnessed a rise of 8 per cent in its broadcast and sponsor sales due to which the prize money for the Champions League will grow for the next three years.
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UEFA makes a total revenue of 3.5 billion euros ($4.27 billion) from its three club competitions. In an online conference on Thursday, UEFA revealed that the total revenue is set to rise by 250 million euros ($305 million) annually through 2024 compared to the 2018-21 period.
According to their statement, clubs part of Champions League will get a small increase while 235 million euros ($287 million) in prize money will be allocated to the Europa Conference League, which is a third-tier competition that launches next season.
The 32 clubs taking part in the coveted Champions League will now share over 2 billion euros ($2.44 billion), compared to 1.95 billion ($2.38 billion) each season from 2018-21.
The clubs will get a basic fee of 15.64 million euros ($19.1 million), compared to 15.25 million euros ($18.6 million) in each of the past three seasons.
Reaching the round of 16 of the Champions League will offer â¬9.6 million, the quarter-finals â¬10.6 million, the semi-finals â¬12.5 million and the final will result in teams pocketing â¬15.5 million. The winner goes from earning â¬19 million to â¬20 million.
However, Europa League will witness a drop from â¬510 million to â¬465 million. But a number of clubs competing in the tournament have also been cut from 48 to 32, which means clubs will earn a higher amount.