The head of UEFA's commercial division said Tuesday that increased revenues for the Champions League will result in elite clubs earning another 15 percent in the next three seasons. Increased demand and improved contracts will see combined revenues for the Champions League and Europa League top $2 billion for the 2012-15 cycle, UEFA Events chief executive David Taylor told The Associated Press.

UEFA's current three-year Champions League broadcasting and sponsorship deals have earned $1.46 billion annually, and finalists typically earn around $66 million each.

"The Champions League is a must-have property for major broadcasters," Taylor said in an interview. "I think we'll be about 15 percent up. The Europa League is more difficult, but we will still see some increases. ... We've seen considerable growth outside of Europe in South America, Brazil, and certain parts of Asia."

Starting next season, total Champions League revenue will likely exceed $1.66 billion - allowing elite clubs to budget for increased income as UEFA's "financial fair play" rules take effect. UEFA is threatening to exclude clubs from its competitions from the 2014-15 season onward if they make persistent losses by overspending on player transfers and wages.