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European soccer clubs renew UEFA deal and will share in $4.7 billion revenue for competitions

arabnews.com

GENEVA: With billions in prize money to distribute from the revamped Champions League next year, UEFA plans to pay more based on merit and share more among teams across Europe that don’t qualify.

The formula announced Wednesday for distributing money to hundreds of clubs should reduce the guaranteed cash currently paid to wealthy clubs with storied pasts.

UEFA and the influential European Club Association signed a renewed working agreement through 2030. The accord in place since 2008 aims to ensure stability in European soccer, though it did not prevent 12 storied ECA members from trying to launch the Super League in 2021.

That project effectively tried to replace the Champions League in a grab for more money and control but failed within 48 hours.

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