Some of the best players on the planet are competing in FIFA's newly formatted tournament in the United States.

Chelsea are the sole representative for the Premier League, after Manchester City were knocked out by Al Hilal in a major shock.

Meanwhile, Real Madrid are contending for glory along with Bayern Munich, with Lionel Messi's Inter Miami eliminated.

An incredible trophy and the tag of being the first ever winner of the new Club World Cup are available for the eventual winner.

But on top of that, there is an eye-watering amount of money waiting to be claimed...

The total prize pot for the Club World Cup is , which is the most money ever for a football tournament. 

That cash is being split into two parts, with $525m being spread between the 32 participating teams.

European teams get the biggest cut of that amount, with those clubs receiving between $12.8m and $38.1m depending on their 'sporting and commercial criteria'.

The other $475m of the pot is then split based on performance.

The winning team will be taking home up to .

At the Club World Cup, payouts are set for each stage of the tournament, with each group stage win leading to teams getting $2m and each draw handing out $1m.

Reaching the round of 16 then saw teams claim $7.5m, which is what Man City left with, alongside their group stage winnings.

A quarter-final spot added $13.125m to a team's total prize collection, while a semi-final place will add a whopping $21m.

For reaching the Club World Cup final, teams receive $30m, with an extra $10m added on for the winner as they take home .

If a team had won all three of their group games, then their round of 16 clash, quarter-final, semi-final and final, they would have claimed - but no team can now achieve this.

On top of that, all teams will claim their participation payment too, with specific amounts per team not revealed yet.

FIFA will not be keeping any revenue from the tournament either, with that cash instead being paid to clubs as 'solidarity payments'.

President Gianni Infantino explained: “The distribution model of the FIFA Club World Cup reflects the pinnacle of club football and represents the biggest-ever prize money for a football tournament comprising a seven-match group stage and playoff format with a potential payout of USD 125 million foreseen for the winners.

“In addition to the prize money for the participating teams, there is an unprecedented solidarity investment programme where we have a target of an additional 250 million dollars being provided to club football across the world. 

“This solidarity will undoubtedly provide a significant boost in our ongoing efforts in making football truly global.

“Not only that, but FIFA will neither retain any funding for this tournament, as all revenues will be distributed to club football, nor will it touch FIFA’s reserves, which are set aside for global football development through the 211 FIFA Member Associations.”

The 2025 Club World Cup began on Sunday, June 15 and will now run for just less than a month until Sunday, July 13.

Fans are able to watch all of the tournament live on DAZN.

If you are already subscribed to DAZN, you won't need to do anything and can watch all the action on your membership. If you are not subscribed, more details can be found here.

In the UK, Channel 5 are showing 23 games during the Club World Cup free-to-air too.

talkSPORT will have live commentary of multiple fixtures, while talkSPORT.com keeps you up to date with all the latest news. 

To tune in to talkSPORT through the website, click HERE for the live stream. 

Listen via the talkSPORT app here, or on DAB digital radio, through your smart speaker and on 1089 or 1053 AM.