As the sports calendar transitions into another year, anticipation grows for events such as the Paris Olympics and the European Championship in football. Athletes globally continue to amass wealth, with some earning upwards of tens of millions both through their sporting prowess and off-field ventures.
The recent influx of investment from Saudi Arabia into football and golf has markedly influenced the sports business landscape. The Forbes list of the highest-paid athletes of 2023 reflects such changes. This list, showcasing a 12 percent income increase over the previous year, signifies the impact of burgeoning media rights, lucrative endorsement deals, and Saudi financial infusion on athletes’ earnings.
Collectively, the top 10 earners pocketed a pre-tax sum of around $1.11 billion over the past year, setting a new precedent in athlete income. Among these, Cristiano Ronaldo notably enhanced his wealth after joining the Saudi Pro League.
Kevin Durant, the American basketball star, ranks tenth with an income of $89.1 million. A notable player for the Phoenix Suns, Durant’s off-court ventures have overtaken his salary, thanks to his endorsements and investments through his firm 35V, which engages in various sports-related enterprises, including a lifetime deal with Nike.
Swiss tennis icon Roger Federer, despite retiring in 2022, still commands $95.1 million, largely attributable to his successful RF brand and investments in companies like Swiss shoe brand On.
At eighth place, Stephen Curry of the Golden State Warriors basketball team raked in $100.4 million. His income mix includes a substantial NBA salary and endorsements, with investments like his film production company Unanimous Media adding to his portfolio.
Golfers Phil Mickelson and Dustin Johnson, both associated with the controversial Saudi-backed LIV Golf, earned $106 million and $107 million respectively, their fortunes undiminished by their move away from the PGA Tour.
Boxer Canelo Alvarez from Mexico, with a $110 million income, continues to dominate the pay-per-view boxing scene, complemented by his personal business ventures.
LeBron James, an NBA veteran, secured $119.5 million, bolstered by an extensive investment portfolio and off-court business interests.
French football sensation Kylian Mbappe with $120 million, faces a pivotal year ahead, especially with his potential move from Paris Saint-Germain to Real Madrid, while still securing lucrative endorsement deals.
Argentine football legend Lionel Messi, earning $130 million, has settled the G.O.A.T debate for many fans after his World Cup triumph and continues to secure substantial earnings through his brand deals and his recent transfer to MLS team Inter Miami.
Topping the list, Cristiano Ronaldo amassed an estimated $136 million following his move to Al-Nassr, with his earnings boosted by a strong presence in endorsements and his various personal brands.
These financial triumphs illustrate the vast business empire elite athletes can build, blending athletic excellence with savvy marketability and strategic business decisions.