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Getty ImagesThe inaugural Women’s Champions Cup winners will earn $2.3m (£1.7m), the biggest-ever single award in women’s club football, says its organiser Fifa.
Arsenal will enter in the first Women’s Champions Cup at the semi-final stage in January.
The new six-team competition was announced by Fifa last March, along with the introduction of a 16-team Women’s Club World Cup.
The runners-up will earn $1m (£735,000), the losing semi-finalists will get $200,000 (£147,000), while Auckland United of New Zealand and China’s Wuhan Chegu Jiangda, who both bowed out in the first round of the competition, will receive $100,000 (£73,500).
Fifa secretary general Mattias Grafstrom said it was “a clear statement of the belief in women’s club football and the players, teams and competitions driving its continued rise”.
The Women’s Champions Cup is set to run annually, except when there is a Women’s Club World Cup – another new Fifa competition that will take place every four years and be held for the first time in 2028.
Arsenal are Europe’s representatives in the tournament after they won the Women’s Champions League last season.
Brentford’s Gtech Community Stadium, which holds around 17,000 fans, will host the two semi-finals on Wednesday, 28 January. USA’s Gotham FC play Corinthians of Brazil in the first semi-final (12:30 GMT) followed by Arsenal versus Morocco’s AS FAR (18:00).
The final (18:00) and third-place play-off (14:45) will be played at the 60,704-capacity Emirates Stadium, Arsenal’s home ground for their WSL matches, on Sunday, 1 February.
Ben Haines, Ellen White and Jen Beattie are back for another season of the Women’s Football Weekly podcast. New episodes drop every Tuesday on BBC Sounds, plus find interviews and extra content from the Women’s Super League and beyond on the Women’s Football Weekly feed
