The 2017 winner of the competition will receive $4m as against the previous prize money of $1.5m, a significant 166 per cent increase.
The increase is due to the new deal the football governing body reached with French multinational oil group Total in July which allowed the petroleum giant to take over the sponsorship of all 10 events run by the governing body.
The deal signed on July 21 also sees other participating teams receiving more prize money. The runners up will now receive $2 million, a 100 percent increase; semi-finalists bag $1.5m, up from $750,000, and quarter-finalists pocket $800,000, $200,000 more than in the past.
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