Hearts of Oak to Earn $2.8M ...

.... as FIFA announce prize money for World Club Championship

Prize money totalling over 7,300 million pesetas ($40.19 million) will be on offer at FIFA's second World Club Championship to be held in Spain from July 29 to August 12 the Spanish Football Federation (RFEF) said on its website on Friday.

The winners of the tournament will take home 1,500 million pesetas ($8.26 million) and the runners-up 1,000 million pesetas ($5.51 million).

The third and fourth-placed teams will be awarded 700 million pesetas ($3.85 million) and 500 million pesetas ($2.75 million) respectively.

The remainder of the prize money will be divided up equally between the other eight clubs participating in the competition. Following are the 12 teams for the championship:

Asia
Jubilo Iwata (Japan) - Winners Asian Super Cup 1999
Al-Hilal (Saudi Arabia) - Winners Asian Super Cup 2000

Africa
Accra Hearts of Oak (Ghana) - Winners CAF Champions League 2000
Zamalek (Egypt) - Winners CAF Cup of Cup Winners 2000


CONCACAF
Los Angeles Galaxy (U.S.) - 2000 CONCACAF Champions' Cup winners
CD Olimpia (Honduras) - 2000 CONCACAF Champions' Cup runners-up


South America
Palmeiras (Brazil) - Winners Copa Libertadores 1999
Boca Juniors (Argentina) - Winners Copa Libertadores 2000


Oceania
Wollongong Wolves (Australia) - 2001 Oceania Champions' Cup winners


Europe
Real Madrid (Spain) - Winner of the 2000 Champions League
Galatasaray (Turkey) - Winner of the 2000 UEFA Super Cup

Spain (host country)
Deportivo Coruna - Spanish champions 1999/2000.

The format will be three groups of four teams with the top team in each group and the best second-placed team qualifying for the semifinals.

The venues are Madrid's Santiago Bernabeu and the Vicente Calderon stadiums as well as the Riazor stadium in La Coruna.