1 Billion Prize Money At Stake In Fifa's New Club World Cup

Football's governing body, FIFA, is set to distribute about one billion dollars in prize money to participants of this years Club World Cup being held in the United States, as reported by a source close to the discussions to AFP on Wednesday.

This amount is considerably higher than the prize funds allocated for the previous mens and womens World Cups.

While FIFA has provided limited information regarding financing this inaugural edition of the 32-team tournament, which will occur every four years, it has recently secured a broadcaster and several major sponsors.

The British streaming service DAZN was granted exclusive global broadcasting rights for the tournament scheduled from June 14 to July 13, with reports indicating the contract is valued at around one billion euros 1.05 billion.

Additionally, FIFA has finalised sponsorship agreements with Coca-Cola, Bank of America, the Chinese electronics firm Hisense, and the Belgian brewing company AB InBev.