The prize money for this year’s 32-team Club World Cup to be held in the U.S. between June 14-July 13 will be $1 billion, soccer’s governing body FIFA said on Wednesday.

With $2 billion expected in revenues, FIFA reserves will remain untouched and some of the money generated will also be dedicated to club football around the world, FIFA president Gianni Infantino added in a statement.

“FIFA will not keep a single dollar,” he said.

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Credit: Reuters / www.sportsvillagesquare.com