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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.
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.