FILE PHOTO: Flags with UEFA logo are seen outside of the Union of European Football Associations headquarters in Nyon, Switzerland, October 5, 2022. REUTERS/Denis Balibouse/File Photo
(Reuters) - Clubs that fail to qualify for UEFA's competitions are set to receive a greater share of revenue from the European governing body from next season under a new distribution model announced on Wednesday.
UEFA and the European Club Association (ECA) signed a renewed working agreement until 2030 which will "bolster long-term stability and sustainable growth in European club football", the governing body said in a statement.
The change will be effective from the start of the 2024-25 season, coinciding with a new format in UEFA's Champions League, Europa League and Europa Conference League.
Under the new model for the 2024-2027 cycle, 7% of the revenue UEFA earns from the three competitions will be distributed to clubs not competing in them, up from 4%.
The European Leagues Association, which represents professional soccer leagues in Europe, said the change will result in 308 million euros ($330.02 million) being shared among non-participating clubs, up from the current 175 million euros.
"Today's announcement ... will help all clubs across Europe to safeguard their competitiveness on and off the pitch while keeping investing in youth and talent development," it said in a statement.
UEFA said further details of the new system will be unveiled at a later date.
($1 = 0.9333 euros)
(Reporting by Hritika Sharma in Hyderabad; Editing by Peter Rutherford)
