Prize money to be awarded to clubs reaching semifinals; Additional investments in club travel also part of initial stage of tournament support
Miami (Wednesday, June 15, 2016) – The Confederation of North, Central America and Caribbean Association Football (CONCACAF) today announced sweeping increases to economic incentives for clubs participating in the Scotiabank CONCACAF Champions League, the region’s premier competition for clubs.
For the 2016/17 edition of the regional club tournament, a prize money pool of $1.2 million has been established, with the competition winner set to earn $500,000. The other three semi-finalists will also earn cash prizes, representing an important investment in the Confederation’s club championship. Additional investments are also earmarked for participating clubs' travel and operations for the event.
“We understand that investment in the Scotiabank CONCACAF Champions League will pay dividends quickly, in further supporting clubs by compensating them for their monumental efforts and success in reaching the Champions League,” said CONCACAF President Victor Montagliani. “In speaking with and listening to our participating clubs and Member Associations, we understand the importance -- in addition to cash prizes for teams reaching the final rounds of the competition – of also supporting the clubs by increasing the travel stipend across the board, to help offset the rising costs of travel across the region.”
CONCACAF’s investment in the 2016/17 edition of the Champions League will total over $5.5 million. In addition to the half million-dollar prize for the winner, the tournament runner-up will receive $300,000 and the two other semifinalists will get $200,000 each.
The Scotiabank CONCACAF Champions League is a yearly club tournament, featuring 24 top clubs from around the Caribbean, North and Central America region. The tournament is played in two phases: a group stage from August to October, and a knockout round from February through late April or early May. The competition winner represents the Confederation at the FIFA Club World Cup.
The draw for the 2016/17 edition of the Champions League took place in Miami last month. This season's group stage play will begin in early August, with the full schedule set to be released in the coming weeks. Club America of Mexico is the two-time defending champion of the competition.