UEFA increases payments to 32 Champions League clubs; prize fund set to reach €750M

NEWYou can now listen to Fox News articles!

European soccer's governing body has increased cash payments for the clubs involved in the Champions League first round.

The 32 teams are set to receive more than 750 million euros ($968 million) combined in bonuses, prize money and television rights.

The Union of European Football Associations says it's giving each team 3.9 million euros ($5.03 million), up 100,000 euros ($129,000) from last season's fee.

Bonuses for group-match results and reaching the knockout rounds remain the same until the semifinals, when the last four each receive an extra 4.2 million euros ($5.4 million), up 200,000 euros ($258,000).

The winner again gets an additional 9 million ($11.6 million), while the losing finalist's prize rises 400,000 euros ($516,000) to 5.6 million euros ($7.2 million).

Teams, which also sell more tickets and merchandise because of the Champions League, will get similar payouts in next season's competition.