The English Football League have confirmed prize money for the Bristol Street Motors Trophy this coming season, with the winner set to bag up to £310,000.

Reading have been drawn against Newport County and Cheltenham Town in the group stage, with one Under-21 side to be revealed on Thursday afternoon.

The Royals breezed into the knockout stages last season as the competition's top scorers, including a club-record 9-0 win away at Exeter City.

Ultimately, Brighton and Hove Under-21s ended their run at the quarter-final stage in a penalty shootout defeat.

Peterborough United won the competition overall last season, beating Wycombe Wanderers 2-1 at Wembley Stadium in front of more than 42,000 supporters.

All teams taking part will receive £20,000 for taking part, while clubs will receive an additional £10,000 for every group stage victory. This drops to £5,000 if the game is level at the end of extra time.

Round of 32 ties sees the winning bonus jump to £20,000, £40,000 in the Round of 16 and £50,000 in the quarter-final.

Runners-up receive £50,000 while the overall winner earns £100,000- taking the total possible to just over £300,000.

The competition remains controversial with supporters due to the involvement of Premier League academy sides participating.