The commercial power of the Champions League property has been further demonstrated with UEFA revealing that Europe's leading clubs will receive a 15% increase in prize money for the next three seasons, reports SportBusiness. UEFA's current three-year Champions League broadcast and sponsorship cycle has earned Eur1.1 billion annually, with finalists typically receiving around Eur50 million each.
However, David Taylor, chief executive of the commercial arm of European football's governing body, UEFA Events, has said increased demand and rising contracts will see combined revenues for the Champions League and Europa League exceed Eur1.5 billion for the 2012-15 cycle.
"The Champions League is a must-have property for major broadcasters," Taylor told the Associated Press
. "I think we'll be about 15% up. The Europa League is more difficult, but we will still see some increases." Taylor added that UEFA must "act for the clubs" through ensuring its showpiece Champions League competition is a commercial success.
He said: "We're expected to earn more and more money, and we accept that. We're under pressure to perform and that is what we are doing."
The UEFA Events chief said that the organisation had been boosted by increased broadcast deals in France - where Al-Jazeera has made aggressive strides into the football market - along with Italy and Spain. "We've seen considerable growth outside of Europe in South America, Brazil, and certain parts of Asia," Taylor added.
