UEFA has announced that revenues for competing in the Champions League, Europa League and Super Cup will see an increase of £787m next season.

Last season, clubs were given a share of £2.06bn, but that figure has now gone up to £2.84bn.

However, UEFA has stated that £457m will be deducted to pay for organisational costs and solidarity payments.

Qualification for the group stage of the Champions League is now worth a guaranteed £13.35m, plus £2.36m for a win and nearly £800,000 for a draw.

Teams will also get additional payments calculated on previous results - known as the coefficient ranking - and finally a share of the television market pool.

Meanwhile, clubs competing in the Europa League next season will receive a share of £490m, an increase from £350m last season.

Real Madrid face city rivals Atletico Madrid in the UEFA Super Cup in August, and both clubs will receive £3.06m for competing in the match, while the winner will collect an additional £870,000.