Salvador (Brazil): The 2014 World Cup champions will receive $35 million in prize money, world football`s governing body FIFA announced here Thursday.
The value represents a 17 percent increase in the prize money handed to Spain for winning the 2010 tournament in South Africa, reports Xinhua.
FIFA will award the second placed side $25 million while the third will receive $22 million.
Each of the tournament`s 32 teams will receive $1.5 million before the tournament begins to help cover their preparation costs.
Another $70 million have been set aside for indemnity payments to clubs who will be without their players during the month-long tournament.
In addition, FIFA has pledged $100 million to a legacy fund for the Brazilian government.
World Cup prize money:
Winners - $35 million
Second - $25 million
Third - $22 million
Fourth - $20 million
Quarterfinals - $14 million
Round of 16 - $9 million
Group phase - $8 million