Manila, March 6 -- The prize money for this year's 32-team Club World Cup to be held in the US from June 14 to July 13 will be USD1 billion, ESPN reported.

FIFA described the massive payout as a "new benchmark for global club football."

The tournament is projected to generate USD2 billion in revenue, ensuring FIFA's reserves remain untouched.

A portion of the earnings will be reinvested into club football worldwide, FIFA President Gianni Infantino confirmed.

"FIFA will not keep a single dollar," Infantino stated.

The tournament will take place across 12 US stadiums, serving as a test run for the 2026 FIFA World Cup, which the US will co-host with Mexico and Canada.

Among the powerhouse clubs in the field are Real Madrid, Bayern Muni...