The winners of this season's Champions League can expect to make 110.35 million euros ($161.5 million) according to a new study.

Research commissioned by MasterCard, the official sponsor of European club soccer's leading tournament, said getting to the knockout stages alone would earn teams an average of 38.45 million euros each despite worldwide financial problems caused by the global credit crunch.

"In uncertain economic times, sport's universal appeal remains strong, making it one of the most lucrative industries to be involved in," said Professor Simon Chadwick of Coventry University, central England, who conducted the research.

"The competition continues to be an important source of revenue and commercial activity for clubs, especially for those that qualify for the knockout phase of the competition.

"Moreover, revenues earned from UEFA Champions League football will be especially important to clubs at the moment, given difficult operating conditions across the world."

(AFP via China Daily December 19, 2008)