The richest sports draw unprecedented affection and interest from fans across the globe. Aside from their enormous fan following, athletes also enjoy a luxurious way of life and get paid mind-boggling amounts of money. Here are the top 10 richest sports in the world today.
Sport stands out as an industry because of its passion, rivalry, and intense feelings of euphoria. Not just because of the emotional pull that draws people worldwide to it, but the industry is alluring because of its economic success and belief in its future prosperity.
Top 10 richest sports in the world 2023
Sports must generate enormous sums of money in order to keep teams successful and well-funded. As a result, a sport's financial success is determined by the market's purchasing power. So, which sport is considered the richest in the world right now?
Considering all the thrills and excitement it has provided over the years, boxing has long been one of the world's most intriguing and well-known sports. However, the typical salary for a professional boxer is $50,000. As amateurs, professional fighters make between $1,000 and $4,000 per match.
Similarly, it gradually increases from $5,000 to $10,000 for each bout. Not to mention, boxers have their sponsors and endorsement deals and receive additional rewards for winning matches.
Motorsport has already surpassed the $5 billion threshold in the global market. Soon, it is anticipated to have reached the US$6.5 billion mark, making it one of the richest sports on the planet.
One of the biggest motorsports competitions, Formula One, brought in $1.83 billion in revenue in 2022. One of the top 10 highest-paid athletes in the world last year, Lewis Hamilton earned a total of US$82 million, including US$70 million from on-track earnings.
Not only do the best athletes compete in this game, but some of the wealthiest do as well. With a total market value of about US$6 billion, tennis has emerged as one of the richest sports in the world.
One of the top tennis competitions, the French Open or Roland Garros, brought in nearly $2.6 million in prize money in 2022. With a total income of $77.2 million, Roger Federer continues to rank among the top 10 highest-paid athletes in 2023. Rafael Nadal also made it into the top 20 with a total income of $41.4 million.
Only a few nations actively participate in international competitions in this sport. But given the overall cash flow, it unquestionably deserves to rank among the richest sports in the world this year. A recent estimate places the industry value of cricket at $6 billion for the year.
In 2023, it is predicted that a professional cricketer's average yearly salary will also reach almost $60,000. The Indian Premier League, one of the biggest cricket tournaments, made $633.62 million in revenue last year. In addition, the average income for each franchise in that tournament was $79.2 million.
Golf, frequently referred to as the sport for the rich, has steadily gained popularity. According to recent reports, the market value of the golf industry has surpassed US$7 billion. The popularity of the sport has dramatically increased in recent years.
In the US, golf attracted 2.6 million new players in 2018, nearly the same number as the year before and a record high, according to a Golf Adviser article from 2019. Tiger Woods, a golfing legend, earned US$72 million in 2022, more than any other golfing celebrity.
It is difficult to believe that baseball is only prevalent in the United States and that a few plots of land outside the country can generate such enormous sums of money. Baseball is one of the richest sports in the world. Any educated young person who wants to play a professional game in the United States should consider baseball because it pays well.
Currently, a professional baseball player makes $8.5 million a year on average, with star players earning significantly more. The value of baseball as a company is about $40 billion. Only a few nations, though, actively participate in this sport.
4. Ice Hockey
Ice hockey is one of the most popular sports in America and Canada, a fast-paced, highly specialized activity that has dominated western props. According to sources, NHL franchises collectively brought in US$6.1 billion in revenue during the 2021/22 season, including earnings from non-NHL events. The sport's total market value is estimated at around US$60 billion.
NHL professionals typically make around US$2.2 million annually. Of course, the United States and Canada significantly impact that market value. Connor McDavid of the Edmonton Oilers has the highest cap hit of any player in the league for the 2021–2022 season, coming in at $12.5 million.
According to recent reports, the global market value of basketball is currently estimated to be over $90 billion. And without a doubt, the United States owns the most significant portion of it. NBA players now make an average annual salary of around $3.8 million as of 2023.
In the 2021–2022 season, the NBA teams collectively earned about 10 billion dollars in revenue. This represents an enormous increase over the 6.41 billion US dollar figure from the 2020–21 season. It is no surprise that this sport draws some of the richest athletes in the world, with LeBron James of the Los Angeles Lakers earning a staggering US$96.5 million in 2022, according to Forbes.
2. American Football
Despite being played only in the United States, the National Football League (NFL) has a market worth about $200 billion, according to recent estimates. It is one of the most well-known games in the country, and significant money is made from it.
The NFL brought in an astounding $11,394 million in revenue last year, more than any other league in any sport. According to Forbes, American Football has some richest sportsmen in the world, including Tom Brady, who is among the top 10 highest-paid athletes.
The most popular sport in the world and the one with the largest market share is football. With a $600 billion market cap, it controls 43% of the global sports market.
The Premier League made $5.43 billion in revenue in the 2021-22 season, and other leagues like La Liga, Serie A, and Bundesliga also made a sizable amount of money. The average salary for a professional athlete in this field is $4 million.
Forbes listed three football stars as the highest-paid athletes in 2022. Lionel Messi ranked first with a net worth of $130 million, Cristiano Ronaldo ranked third with a net worth of $115 million and Neymar at number four with a net worth of $95 million.
Sport is one of the most common past times for everyone and has already established itself as a lucrative activity. Professional athletes can get rich really quick by playing sports since they earn millions of dollars.
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