The payout will come from a prize pool of $420 million, up 61 per cent on the 2006 World Cup in Germany.

Fifa made the announcement after an executive committee meeting on Robben Island, the prison camp off Cape Town made notorious by Nelson Mandela's long incarceration.

The beaten finalists in the World Cup 2010 final in Johannesburg will receive $24 million, the losing semi-finalists $20 million, and the losing quarter-finalists $18 million.

Teams eliminated in the second round will get $9 million and those eliminated in the group stage $8 million.

In addition Fifa will give each competing country $1 million to cover preparation costs, and will compensate clubs for time spent on international duty by players. The compensation could reach $76,000 for players in teams who reach the final.

In exchange the clubs have agreed not to pursue any claims or any possible compensation for injuries or other mishap through the civil courts but only go through Fifa or the Court of Arbitration for Sport.

Fifa also confirmed that the London 2012 Olympic tournament will be an under-23 competition in line with previous tournaments. Leading clubs had been lobbying for it to be an under-21 competition to prevent top players taking part. Meanwhile Lord Triesman, chairman of England's 2018 World Cup bid and the FA, has praised David Beckham for helping revive the fortunes of the 2018 campaign. The former England captain has been at the heart of England's lobbying effort in Cape Town, meeting Fifa executive committee members who will decide England's fate, and Triesman said he had helped the bid move on.

Triesman said after touring a township with Beckham: "They [Fifa ex-co members] immediately warmed to him. He's obviously a great footballer but they all say if you had to have somebody who reflects the best values in the game like fair play and respect and you had a prize for that type of player of the year, David Beckham would win it every year. He has impact."

Triesman said he felt this week's efforts had put the bid back on track after months of damaging in-fighting.