The winner of the maiden edition of the WAFU Nations Cup will earn US$ 100,000 which starts in September.
Organizers announced the sumptuous package on Thursday during the launch of the competition in Accra.
Sixteen teams from the two Zones (West A and B) will compete in the coastal cities of Cape Coast and Sekondi-Takoradi.
The first round will be a knockout format with all four winners in each Group staying on for a round-robin exercise.
After three matches, the top two teams will progress to semi-final.
The 2017 Fox Sports WAFU Nations Cup will run from 9-24 September.
Group A (Takoradi)
Ghana vs Gambia
Nigeria vs Sierra Leone
Mali vs Mauritania
Guinea vs Guinea Bissau
Group B (Cape Coast)
Senegal vs Liberia
Burkina Faso vs Niger
Ivory Coast vs Togo
Benin vs Cape Verde