UEFA confirm £400m plan as Liverpool prepare for Champions League return

UEFA have announced a significant increase in prize money for the Champions League starting next season.

Liverpool are currently battling to finish in one of the qualifying spots in the Premier League table this season. The Reds are top of the league, two points clear of Manchester City and Arsenal, and are also fighting to win the league title.

Jurgen Klopp's team have a seven-point lead over fifth-placed Tottenham Hotspur in the table. It remains to be seen if fifth will be enough to qualify for the Champions League next season, with the outcome depending on how teams from England do across European cup competitions this season.

It was confirmed on Wednesday that UEFA have increased the total prize money for next season's Champions League up to £2.1 billion (€2.46 billion). This is an increase of £400 million from the current figure which is thought to be in the region of £1.7 billion (€2.1 billion).

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Liverpool are not competing in the Champions League this season, but are instead bidding to win the Europa League instead. The Reds are in the last-16 of the competition but will have ambitions of being in Europe's top club tournament once again in the next campaign.

Despite this, Liverpool still earned £71 million from their involvement in last season's Champions League, where they reached the last-16 before being knocked out by Real Madrid. Manchester City earned £115 million for winning the competition for the first time in their history.

Next season will see the Champions League expand to a new format, with the number of teams increasing from 32