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Champions, Europa League prize money to be cut for five years due to COVID-19

General view of the UEFA logo at UEFA Headquarters before a draw [REUTERS/Denis Balibouse]

Champions League and Europa League prize money will be cut over the next five seasons as Europe’s soccer governing body UEFA grapples with the financial impact of the COVID-19 pandemic, The Times has reported.

UEFA has informed its member associations that they lost 514 million pounds ($666.40 million) following the reduction in both television and sponsorship income after delays in the knockout stages last season, the report said.

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