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Each Real Madrid player will pocket a €1 million bonus if the team goes on to win the Club World Cup, according to Diario AS.
Los Blancos are currently in the quarter-finals of the tournament, taking place in the United States.
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They recently knocked out Juventus in the Round of 16 and are set to face Borussia Dortmund this weekend in the last eight.
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Dortmund booked their quarter-final spot after a 2-1 victory over Monterrey.
The highly anticipated clash between Real Madrid and Dortmund is scheduled to kick off at 9:00 p.m. Nigerian time.