How much is Championship playoff final worth? Prize money as Nottingham Forest beat Huddersfield Town to a place in the Premier League

Nottingham Forest secured a return to the promised land of the Premier League on Sunday as they defeated Huddersfield Town in the Championship playoff final.

Huddersfield finished third in the regular-season table and booked their spot at Wembley courtesy of a 2-1 aggregate win over Luton Town in the playoff semi-finals.

Fourth-placed Sheffield United headed to the City Ground 1-0 down but a 2-1 win for the visitors forced extra-time and then penalties.

Forest held their nerve in the shoot-out to win 3-2 on penalties courtesy of three saves from goalkeeper Brice Samba.

It was Steve Cooper's side who triumphed in the final, though, as Levi Colwill's first-half own goal gifted Forest a 1-0 win.

Marco Silva's Fulham have already secured an immediate return to the top flight as Championship winners. They will be joined by Bournemouth, whose victory over Forest in their final home game of the season ensured the Cherries finished second.

MORE: When is the EFL Championship playoff final? Full playoff fixture schedule, bracket, results, TV channel

Premier League prize money: How much is the Championship playoff final worth?

The Championship playoff final is often dubbed the 'richest game in football' because of the financial incentives on offer for the winners.

However, the financial injection does not come directly from either the EFL or the Premier League, with the Championship title-winners receiving £100,000 ($125,000) and second place pocketing £50,000 ($62,000).

The playoff winners' monetary motivation comes from TV rights, sponsorship deals and new revenue streams as a result of their new status.

Previous estimates broadly place the figure at £100 million ($125m) as an 'immediate' cash win, but figures vary year-on-year and continue to rise despite concerns over the COVID-19 pandemic causing it to reduce during 2022/23.

TV revenue alone is estimated at £3.1 billion ($3.9 billion) a season in the Premier League, with a minimum payment of £100m ($125m) for the lowest-ranked team in the division, in comparison to £7m ($8m) per club in the Championship.

Figures from Deloitte in 2020 estimated an increase in overall club revenue from £135m ($170m) to £265m ($333m), depending on non-TV agreements, with 2022 calculations placing it closer to £200m ($225m) as a base line.

How do Premier League parachute payments work?

If a newly-promoted team survives a season in the Premier League, they are boosted by an additional financial bonus, depending on their final league position.

The Premier League distributes prize money for each team in the top flight at the end of the campaign, with even the side in 17th — the position immediately outside the relegation zone —picking up an estimated £7m ($8.8m).

In certain circumstances, clubs relegated back to the Championship are given 'parachute payments' to break their fall.

Parachute payments are drawn from the Premier League's 'Equal Share' dividend of TV revenue, divided between the 20 top-flight clubs, alongside their individual fees for live matches.

Relegated sides receive an initial 55% share of what they would have picked up in their first season back in the Championship.

That figure drops to 45% in the second year, and to 20% in the third — but only if the team receiving the payments spends more than one season in the Premier League.

Which teams have been promoted via the EFL Championship playoffs?