With an eye-watering $1 billion in prize money, some of the biggest stars in the game and clubs competing from across the globe, FIFA's new Club World Cup has all the ingredients to be a huge event.Questions over how seriously the clubs would take the new competition became somewhat muted after FIFA announced the huge prize fund.

Why does the Club World Cup exist? The answers, one noble and one cynical, ultimately point to the same truth.

With the first Club World Cup match on June 15, it's time to get up to speed with the key talking points around the tournament