Do you know the highest paid sport in the world?
Sports are not only a common kind of entertainment, but they are also one of the most important sectors in the modern world. Around the world, sports have assimilated into the educational system.
Athletes make millions of dollars while also bringing glory and notoriety to their nation. With their unwavering commitment and dedication, athletes strive extremely hard to reach the highest level possible.
In addition to their salaries from playing the games, professional athletes frequently collect large sums of money through sponsorship deals. These contracts can occasionally be worth millions of dollars over several years. Every tournament aids the players’ ability to earn a sizable sum of money.
Athletes from all around the world compete in these huge sporting events, which are organized by many nations and cost billions of dollars to put on, like the last Olympics hosted in Tokyo. The wealthiest athlete has an estimated net worth of over $2 billion, which boosts the industry’s profitability.
The ability to pursue a great career in athletics is truly a dream come true. But pursuing a profession in sports requires a lot of effort and persistence. However, you should absolutely have a look at our list of the highest paid sports in the world if you decide to pursue a career in sports for yourself or your children.
And if you’re wondering which sport makes the most money, let me tell you that it depends on the candidate’s physical and mental qualities.
Currently, these are the top 10 highest paid sports in the world:
- Basketball (NBA)
- American Football (NFL)
- Ice Hockey
- Baseball (MLB)
- Auto Racing
- Wrestling (WWE)
1. Basketball (NBA)
The highest-paid sport in the world is basketball, which tops the list. The NBA, which consists of 30 teams, is the most well-known and lucrative basketball league in the world.
As players began paying very significant sums in the 1970s, basketball began to draw athletes from all over the world. In the USA and Canada, it is also the sport that is most watched.
According to forbes, Basketball is the most lucrative sport in the world, with an average annual income of $7,422,823 in 2018–19. The highest-paid sportsmen in this sport earn massive wages and have access to numerous sponsorship opportunities.
Not just the NBA, but also the FIBA, CBA, ABL, Asia League, etc., and other basketball associations, paint the same picture. Compared to baseball and football, the NBA has fewer teams, which allows franchisors to spend more money on player acquisition.
Players typically sign guaranteed contracts so they can be compensated even if they are hurt or released by a team. According to Forbes, athletes like LeBron James made more than twice as much as their $270 million salaries throughout their first 16 years of play.
With a $187 million on-court revenue over 12 seasons and $75 million in earnings over the previous year, it surpassed Kevin Durant’s current ten-year $275 million Nike agreement. James has held the title of highest-paid player in the NBA for six years running, earning 92 million dollars in total between salary and endorsements.
For an active basketball player and sportsperson, this is a world record. His main sponsor, Nike, has named a new research facility after James on the Beaverton, Oregon, Business campus. The seventeenth version of LeBron James’ autographed shoe, the Nike LeBron XVII, has debuted in retailers.
The late Kobe Bryant supported brands including Nintendo, Adidas, and Nike. Our list of sponsors for the Legend Michael Jordan is too short to name.
One of the planet’s oldest sports, boxing was first practiced in 688 BC, more than 2700 years ago. It is currently ranked second among all sports in the world in terms of remuneration. In the United States, Europe, Asia, and Africa, boxing is particularly well-liked.
Boxing is a combat sport that is performed between two participants inside of a ring, making it a game with high risk and great profit.
Because of the demands of the sport, participants must be extremely fit to accomplish anything significant. Various competitions and matchups have brought in a ton of cash for many well-known boxers. Through sponsorship deals, wagering, and pay-per-view commissions, boxing athletes earn enormous sums of money.
Currently, boxing is the second-highest paid sport in the world. A match’s highest paid boxer made $333 million. Floyd Mayweather is currently the richest boxer in the world with a staggering net worth estimated to exceed $450 million.
He is also one of the world’s wealthiest athletes. The Floyd Mayweather vs. Manny Pacquiao fight was the most viewed and well-liked boxing battle in history.
3. Football, American (NFL)
Millions of fans in the USA watch American football, also referred to as football, making it one of the most popular sports and one of the most watched. The 32-team National Football League (NFL) is the most well-known American football league worldwide.
The majority of football players’ greatest dream is to play in the league. Among all professional sports leagues, the NFL has the highest average attendance worldwide with the largest football stadiums.
Football, which is played at all levels—high school, college, and professional—is the third highest-paid sport in the world. The highest-paid footballer was Roger Staubach, a former American football star who earned $253 million annually. Even though NFL is exclusively viewed in the USA, it is one of the most popular leagues worldwide.
Golf is regarded as one of the most difficult sports to master, but it is also one of the easiest to learn. Although golf was first played in the 15th century, it wasn’t until the 17th century that it really took off in the USA and Europe.
Golf is the fourth-highest paid sport, with the top-paid golfer earning $127 million annually. The wealthiest golfer is Tiger Woods, who has an estimated net worth of $800 million. For a record-breaking 11 times, the great golfer topped the Forbes list of the richest golfers, which is a significant accomplishment.
Woods currently holds the record for most times at the top of Forbes’ list of the richest athletes. All across the world, well-known events like the US Open, British Open, and PGA Championship are organized.
With approximately 4 billion supporters globally, soccer is without a doubt the most popular sport in the world. It is practiced in practically every nation.
Since its inception in the 1950s, soccer has grown in popularity throughout Asia, Africa, and Europe. The fifth-highest paid sport in the world is soccer.
The football player with the highest salary earned $127 million and the richest soccer player in the world is a Portuguese professional named Cristiano Ronaldo, who has a net worth of over $1 billion through endorsements and salaries.
With millions of spectators worldwide, tennis is one of the most popular sports and the sixth-highest paid sport in the world.
The most well-known tennis competitions and events are the US Open, French Open, and Grand Slams. This sport attracts participants of all genders. It’s interesting to note that female tennis players are among the highest-paid female athletes in the world.
Tennis is governed by the International Tennis Federation (ITF). Tennis’ highest-paid player earns almost $106 million annually.
With a net worth of $450 million, Roger Federer, a Swiss professional tennis player, is the wealthiest tennis player in the world.
7. Ice Hockey
Ice hockey is a sport played on an ice rink between two teams, each of which has six players. The purpose of the game is to get the puck, a vulcanized rubber disk, beyond the goal line and into the goalie’s net.
Ice hockey has grown to be one of the most well-liked worldwide sports due to its speed and frequent physical contact.
There are more than a million registered players participating regularly in leagues worldwide in this Olympic sport. The game is possibly the most well-known in Canada.
Ice hockey is the seventh-highest paid sport in the world. It is also one of the most popular and widely viewed in the USA. An ice rink, whether indoors or outdoors, is used to play the contact team sport of ice hockey.
A player in ice hockey with the highest salary makes almost $99 million a year. Canada’s national winter sport is ice hockey, which is also well-liked in the USA, Russia, and Australia.
The National Hockey League (NHL) is the most powerful professional ice hockey league in the world, and the International Ice Hockey Federation (IIHF) oversees the sport. With a net worth of $250 million, legendary Canadian player Wayne Gretzky is the wealthiest player in ice hockey.
A diamond-shaped field with four white bases is used for the game of baseball, which is played between two teams of nine players each (i.e., a square oriented so that its diagonal line is vertical). Teams switch roles as fielders (defensive) and batters (offense) when three players on the batting team are “put out.”
Players attempt to knock the ball beyond the fielding team’s grasp when at bat in order to score a “run” by going all the way around the bases. The winning team is the one with the most runs scored over the course of nine innings (at bats).
Baseball is an extremely well-liked sport in the USA, Japan, and South Korea, and is the ninth highest paid sport in the world. The largest annual salary was $38 million, which was earned by a baseball player. Initially performed in the 18th century.
The governing body that oversees the choice and execution of baseball’s rules is the International Baseball Federation, or IBAF for short, and biggest and most well-known baseball league in the world is said to be Major League Baseball (MLB).
Numerous MLB players have long been regularly included in Forbes’ list of the wealthiest athletes. The wealthiest baseball player is an American former professional named Alex Rodriguez, who has a net worth of $400 million.
9. Auto Racing
Often known as motor racing is a professional and amateur sport that is conducted all over the world on closed circuits, tracks, and public highways.
It comprises midget car racing, karting, stock car racing, sports car racing, drag racing, Grand Prix racing, speedway racing, stock car racing, and hill-climbing (see hill climbing; see also rally driving; gymkhana).
Racing automobiles are classified into several classes and subclasses by regional, national, and worldwide regulating bodies, the most renowned of which is the Fédération Internationale de l’Automobile (FIA), which also oversees contests.
In the USA and Europe, auto racing is a tremendously popular spectator sport. Automobile racing is one of the riskiest sports in addition to being an entertaining activity.
It comes in at number nine on the list of sports with the highest salaries, with the biggest sum ever given to an auto racing driver coming in at $18 million.
Since the introduction of the vehicle, there has been auto racing, with the first race being held in 1867. With an estimated net worth of $800 million, former German racer Michael Schumacher is the richest person involved in auto racing. Michael now holds the unbroken record for both the most races won in a season and the fastest laps completed.
Cycling is the term for using a bicycle for transportation, recreation, or sport. Professional and amateur cycling competitions are held mostly in Asia, North America, and continental Europe. In both Europe and the US, bicycles are frequently used for leisure.
Non-Western and flat countries, some of which, like the Netherlands, have an extensive network of bicycle routes, place a high priority on the use of bicycles as a form of transportation.
Charles Minthorn Murphy was the first cyclist to complete a mile in less than a minute more than 120 years ago, in 1899. His achievement earned him the moniker “Mile-a-Minute Murphy.”
Since the invention of bicycles and other vehicles, cycling is today regarded as one of the most active sports in the world. Numerous cycling competitions are hosted all over the world and are regarded as some of the most paid competitions.
Not only do well-known cyclists profit from competitions, but they also promote brands’ goods and services. Lance Armstrong, a renowned cyclist, earned a total of $28 million in 2010, placing him in ninth place on Forbes’ list of the wealthiest athletes. In 2023, Lance will be among the highest-paid athletes.
According to forbes list of highest-paid athletes in 2019, the top earner comes from Basketball.
I hope the article was enjoyable to read. Additionally, if any of the sports on our list are also your favorites, please let us know in the comments area.