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European football clubs renew UEFA deal and will share in $4.7 billion revenue for competitions

Europe ECA Football the Champions League UEFA Champions League Real Madrid

With billions in prize money to distribute from the revamped Champions League next year, UEFA plans to pay more based on merit and share more among teams across Europe that don't qualify.

The formula announced Wednesday for distributing money to hundreds of clubs should reduce the guaranteed cash currently paid to wealthy clubs with storied pasts.

UEFA and the influential European Club Association signed a renewed working agreement through 2030.

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