The Asian Football Confederation (AFC) has announced a significant increase in the prize money for the AFC Champions League and AFC Cup.
The prize money for the winners of the 2016 AFC Champions League will double from US$1.5 million to US$3 million, while the 2016 AFC Cup champions will get US$1 million instead of US$350,000.
However, there are also increases for the runners-up, semi-finalists, quarter-finalists and the clubs that progress to the round of 16.
The runners-up in the AFC Champions League will see their prize money double from US$750,000 to US$1.5 million, while the semi-finalists will receive US$200,000 instead of US$120,000. The clubs that reach the quarter-finals will now get US$120,000 and the round of 16 participants will earn US$80,000.
In regards to the AFC Cup, the runners-up prize money has doubled from US$250,000 to US$500,000, while the semi-finalists, who received nothing in 2015, will now get US$40,000.
Meanwhile, the quarter-finalists and round of 16 clubs will be given US$25,000 and US$15,000 respectively.
The significant increases in prize money in both the AFC Champions League and AFC Cup were approved by the AFC Executive Committee at its meeting on November 27 in New Delhi, India.
“The increases in prize money in both the AFC Champions League and AFC Cup will further increase the appeal of these competitions,” AFC General Secretary Dato' Windsor John told reporters in Kuala Lumpur on Thursday. “This is a significant boost and investment in the future of club football in Asia and will make competition for both continental titles even fiercer than before.”