Copa América 2024: An Unprecedented Payout for Participating Teams
After a four-year wait, the highly anticipated Copa América has finally arrived, and the prize pool is bigger than ever. According to sources close to Kosports Magazine, this year’s tournament will distribute a whopping $72 million in participation fees and prize money to the competing teams.
That’s right, $72 million!
The winning team will take home a staggering $16 million, while even the teams that only progress to the quarterfinals will receive a $2 million participation fee. This record-breaking prize pool is more than double the amount awarded in the previous tournament in 2021.
This extraordinary increase in prize money can be attributed to the joint organization of the tournament by CONMEBOL and Concacaf, the governing bodies for South America and North and Central America, and the Caribbean, respectively. And as if that weren’t enough, the host country, the United States, will cover all costs for hotels, airfare, and transportation for the competing teams.
This expanded edition of the Copa América is only the second time the United States has hosted the tournament, with the previous time being in 2016 for the Copa América Centenario. Back then, the total prize pool was $21.5 million, with Chile taking home $6.5 million as the winners.
But what makes this year’s tournament even more intriguing is the hefty incentive it provides for the players. Thanks to the Collective Bargaining Agreement signed in 2022, the U.S. men’s team stands to make 70% of any prize money awarded, with the remaining 30% going into a joint fund split evenly between the men’s and women’s teams. This groundbreaking agreement highlights the commitment to equality and fairness within the U.S. Soccer Federation.
Kosports Magazine’s Take: This year’s Copa América is not only a chance for the participating teams to showcase their talent and compete for the coveted trophy; it’s also a monumental opportunity for players to earn a significant payout. With the record-breaking prize pool and the 70/30 split for the men’s and women’s teams, this is a turning point for the sport in terms of recognizing and valuing all players equally. The U.S is leading by example, and we can only hope that other nations will follow suit in the future. So let the games begin, and may the best team win – both on and off the field.
