Champions League change confirmed that could have huge impact on Liverpool

UEFA have confirmed a significant increase to the Champions League prize pot that could act as a serious financial boost for Liverpool.

After missing out on a top four spot last season, the Reds are hellbent on regaining their place in Europe's premier competition this season - something they look increasingly likely to do as they sit in first in the Premier League.

Should they qualify for the Champions League for the 2024/25 season, there will be an added incentive to go on and win that elusive seventh title.

The current winner's purse for the tournament is thought to be in the region of £1.7 billion - a sizeable fund by anyone's standards.

However, as revealed on Wednesday, UEFA have increased the total prize money for next season's Champions League up to £2.1 billion, seeing an increase of around £400 million.

This change coincides with the expansion of the Champions League's format going into the next campaign, which sees 36 teams compete in single-league stage to replace the current four-team group system that fans have become so accustomed to seeing in recent decades.

The Champions League is a notoriously lucrative competition, with involvement in the tournament bringing both a boost in reputation and financial might, often regardless of performance.

This can be seen by Liverpool's showing in the tournament last season, making £71 million despite crashing out in the knockout stages to Real Madrid.

While not having any Champions League football to look forward to this season, the Reds remain in European competition and have a Europa League last 16 tie in the docket - the opponents of which they will discover on February 24, following the results of the knockout round play-off.

They will hope to guarantee their place in the Champions League next season by winning the Europa League - a final they will be even more determined to reach due to its location in Dublin, a city brimming with Reds fans.