The winners of the Women’s Champions Cup will receive a record £1.7m

The winners of the inaugural Women’s Champions Cup will receive $2.3m (£1.7m), the largest single prize ever in women’s club football, FIFA has announced.

Arsenal will participate in the first Women’s Champions Cup semi-final in January.

FIFA announced the new six-team tournament last March, along with the introduction of the 16-team Women’s Club World Cup.

The runner-up will receive $1 million (£735,000), the semi-final losers will receive $200,000 (£147,000), while New Zealand’s Auckland United and China’s Wuhan Zhiguo Jiangda, who withdrew from the first round of the competition, will receive $100,000 (£73,500).

Matthias Grafström, FIFA Secretary General, said this was “a clear statement of faith in women’s football and the players, teams and competitions driving its continued rise.”

The Women’s Champions Cup is scheduled to be held annually, except when there is the Women’s Club World Cup, another new FIFA competition that will be held every four years and will be held for the first time in 2028.

Arsenal represents Europe in the tournament after winning the Women’s Champions League title last season.

Brentford’s Gtech Community Stadium, which has a capacity of approximately 17,000 fans, will host both semi-final matches on Wednesday 28 January. The American Gotham will play against the Brazilian Corinthians in the first semi-final (12:30 GMT), followed by Arsenal versus the Royal Moroccan Army (18:00).

The final (18:00) and third-place match (14:45) will be played at the 60,704-capacity Emirates Stadium, Arsenal’s home stadium for Women’s Football League matches, on Sunday, 1 February.