FIFA, world football’s governing body, has paved the way for a big increase in prize money at the 2018 World Cup, to be staged in Russia.

FIFA plans a 22 per cent increase on the prize money, which appears to leave open the possibility of 2018 producing the first $50 million (£30 million/€36 million) World Cup winner.

Budget plans for 2015-2018, included in the body’s new 2013 financial report, include a total of $582 million (£352 million/€422 million) for “finalist payments” at the flagship tournament, which is responsible for the vast majority of FIFA’s revenue.

This would be more than $100 million (£60 million/€72 million) up on the $476 million (£288 million/€345 million) to be paid to national teams and the clubs who employ the players competing at this summer’s World Cup in Brazil.

The winner of this year’s tournament is to receive $35 million (£21 million/€25 million), with $25 million (£15 million/€18 million) going to the runners-up.

Beaten quarter-finalists will get $14 million (£8.5 million/€10 million), and even the 16 teams eliminated at the group stage will collect $9.5 million (£6 million/€7 million), consisting of $8 million (£5 million/€6 million) prize money and the $1.5 million (£907,000/€1.1 million) preparation fee paid to all 32 finalists.

Clubs whose players take part in the tournament will share $70 million (£42 million/€51 million), based on a “per player per day” amount of $2,800 (£1,692/€2,030).

The 2015-2018 budget also indicates that FIFA expects to extend its Club Protection Programme (CPP), an insurance scheme designed to compensate clubs when their players are injured on international duty, beyond its current end-2014 cut-off point. The budget includes $120 million (£73 million/€87 million) for CPP, up from its expected $100 million (£60.5 million/€72.5 million) cost for 2012-2014.

FIFA confirmed that it was “foreseen” that the CPP would be continued. However, this had not yet been approved by the Executive Committee.