Clubs to get Champions League prize money raise

NYON, Switzerland (AP) - UEFA is set to give European clubs a 15 percent raise in Champions League prize money for the next three seasons.

UEFA's current Champions League broadcasting and sponsorship deals earn $1.46 billion annually, and finalists typically receive around $66.4 million each.

David Taylor, chief executive of UEFA's commercial division, tells The Associated Press that sales are up "about 15 percent'' for the 2012-15 cycle.

Taylor says combined revenues for the Champions League and Europa League will top $2 billion starting next season.

UEFA shares at least three-quarters of Champions League revenues among the clubs taking part.

Clubs earn extra revenue from tickets and merchandise sales.