FIFA reveal record-breaking $1 billion prize fund for Club World Cup

As well as committing $1bn for the teams participating, FIFA is understood to be setting aside an additional $100million for solidarity payments to clubs who have not qualified.

MONEY MAN: FIFA President Gianni Infantino arrives for the Clearer Water Irish Cup, quarter final, at Seaview Stadium, Belfast. Pic: Peter Morrison/PA Wire

Manchester City and Chelsea are set to receive a share of a $1 billion prize fund for competing in this summer's Club World Cup.

Organisers FIFA announced details of what will be the largest prize pot in club football for the newly-expanded 32-team tournament.