Latest bit of news on this is that US Soccer is proposing a combined Copa America for 2020 that would be financed by US Soccer or some entity they line up, and would pay a big chunk of money to each participating nation's federation.

http://www.espn.com/soccer/copa-america/...t-for-2020

Quote:The letter, a copy of which was obtained by ESPN FC, proposes a tournament that will in many ways mirror the Copa America Centenario that was hosted by the U.S. in 2016. The invitees will consist of all 10 CONMEBOL countries as well as six CONCACAF nations.

The USSF is offering to underwrite the entire event, including a guarantee that each team will receive a minimum of $4 million to participate. Teams can earn additional prize money of $225,000 per point won, and $5m for winning the tournament. Before prize money, the total compensation to CONMEBOL and its teams will be $90m, while CONCACAF and its teams will receive $74m. All told, the USSF is willing to pay out nearly $200m to the participants -- both teams and confederations -- of the event.

Quote:The intention is to turn the combined tournament into a quadrennial, joint continental event. Any combined tournament would have to be approved by both confederations as well as the USSF. According to the letter, USSF president Carlos Cordeiro has invited CONMEBOL leaders to discuss the proposal next week in Miami.

Update: CONMEBOL says no.