FIFA sets Club World Cup prize money at $1 billion

The prize money for this year's 32-team Club World Cup to be held in the US between June 14 -July 13 will be $1 billion (AED 3.67 billion), soccer's governing body FIFA said on Wednesday.

With $2 billion (AED 7.35 billion) expected in revenues, FIFA reserves will remain untouched and some of the money generated will also be dedicated to club football around the world, FIFA president Gianni Infantino added in a statement.

"FIFA will not keep a single dollar," he said.

All clubs will receive a participation fee for entering the group stage along with performance fees based on results.

The UAE’s Al Ain are one of the 32-teams competing in the tournament, being held in the United States in June. The UAE side will face Juventus on June 19 before taking on Manchester City on June 23.

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