European football governing body, UEFA Wednesday announced that the revenues for competing in the Champions League, Europa League and UEFA Super Cup have increased to £787m for next season.
UEFA said a total of £1.71bn will be divided into four categories with each of the 32 clubs that qualify for the group stage to receive an allocation of £13.34m.
Last season, clubs were given a share of £2.06bn, but that figure has now jumped to £2.84bn.
Group stage performance will see clubs who win going home with £2.36m while £787,000 is the prize money for a draw.
Clubs will also receive £8.31m for reaching the round of 16, £9.19m for the quarter-finals, £10.5m for the semi-finals and £13.12m for reaching the final. The winner will receive an additional £3.5m
Clubs competing in the Europa League next season will receive a share of £490m, an increase from £350m last season.
UEFA further said that £457m will be deduced to pay for organizational costs and solidarity payments.
Real Madrid will play Atletico Madrid in the UEFA Super Cup, in Estonia August which will serve as the curtain raiser for the 2018-2019 UEFA competitions.
Both clubs will receive £3.06m for competing in the match, while the winner will collect an additional £870,000.