UEFA Champions League: UCL prize money increased after UEFA witness sales rise by 8%

UEFA Champions League: In a recent development, Champions League teams have been promised more prize money for the next three years by UEFA
UEFA Champions League: In a recent development, Champions League teams have been promised more prize money for the next three years by UEFA

UEFA Champions League: In a recent development, Champions League teams have been promised more prize money for the next three years by UEFA. The decision comes after UEFA saw a near 8% rise in total revenue to 3.5 billion euros ($4.27 billion) from broadcast and sponsor sales tied to UEFA’s three club competitions.

Total revenue is set to rise by 250 million euros ($305 million) annually through 2024 compared to the 2018-21 period, the European Leagues group said Thursday in an online conference.

Champions League clubs will get a small increase while 235 million euros ($287 million) in prize money will be allocated to the Europa Conference League, a third-tier competition that launches next season.

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The 32 Champions League clubs will share just over 2 billion euros ($2.44 billion), compared to 1.95 billion ($2.38 billion) each season from 2018-21. Small deductions are made from each club to help pay back broadcasters for disruption during the coronavirus pandemic last season.

Each Champions League club 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. They get more from match results, advancing through each knockout round, a share of broadcast rights and as a reward for historical titles and success. The highest-earning club could get about 130 million euros ($160 million).

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The Europa League was worth 560 million euros ($684 million) this season when there were 48 teams in the group stage.

From next season, the Europa League will pay out 465 million euros ($568 million) with 32 teams in the group stage. It is worth a combined 700 million euros (854 million) with the 32-team Europa Conference League.