Sports capture the true spirit of human passion, intense competition, and those unforgettable moments of sheer joy. While millions are drawn to the emotional thrill of sports, the industry itself is a powerhouse of economic activity with a bright future ahead. Sports offer more than just entertainment; they are a catalyst for character building, promoting physical fitness and personal growth. In 2024, the sports industry continues to showcase its incredible capacity to generate impressive revenue, often outpacing traditional business sectors.
So let’s delve into the top 10 richest sports in the world as of 2024:
10. Boxing
Boxing is undoubtedly among the most financially lucrative sports globally. On October 22, 2022, in Budva, Montenegro, Aoife O’Rourke from Ireland faced Elzbieta Wojcik from Poland in their middleweight 75kg bout. Boxing has a rich history and is widely recognised and captivating. Nevertheless, the average income for professional boxers stands at $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 own sponsors and endorsement deals and receive additional rewards for winning matches.
9. Motorsport
Motorsport is also one of the ninth richest sports in the world. Mick Schumacher and Haas F1 Team driver goes during the qualification at Formula 1, in Yas Marina Circuit, Abu Dhabi, Motorsport has already surpassed the $5 billion threshold in the global market. This 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. Lewis Hamilton earned a total of US$82 million, including US$70 million from on-track earnings.
8. Tennis
Tennis is the eighth top richest sport in the world. Casper Ruud comes to take the shot against Carlos Alcaraz during the 2022 US Open at USTA Billie Jean King National Tennis Center on September 11, 2022, In this, the sport does not only do the best athletes compete in this game but some of the wealthiest do as well.
Tennis has transformed from a gentleman’s game to a global powerhouse of sports entertainment and big money. The French Open, or Roland Garros, stands as a testament to the sport’s financial might, generating a staggering $2.6 million in prize money in 2022. With the total market value hovering around $6 billion, tennis has become a lucrative arena where athletes like Rafael Nadal can earn an impressive $41.4 million. It’s a world where skill, passion, and commercial appeal intersect, creating opportunities that extend far beyond the tennis court.
7. Cricket
Cricket is definitely the seventh richest sport in the world, 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.
6. Golf
Golf is the sixth top richest sport in the world. In this sport, we have seen Adam Scott of Australia during Day 4 of the 2022 ISPS HANDA Australian Open at Victoria Golf Club on December 04, 2022, in Melbourne, Australia. Golf, frequently referred to as the sport for the rich, has steadily gained popularity. 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.
5. Baseball
The sport of strength and energy baseball is also the fifth richest sport in the world. Bryan Abreu of the Houston Astros delivers a pitch against the Philadelphia Phillies during the 2022 World Series at Minute Maid Park on November 05, 2022, in Houston, Texas. 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.
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 the fourth top richest sport in the world and the game of intelligence. David Savard of the Montreal Canadiens plays against the Seattle Kraken at Centre Bell on January 9, 2023, in Montreal, Quebec, Canada. 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. 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.
3. Basketball
Basketball is definitely the third most played sport in the world. Stephen Curry, known as the Golden State Warriors, drives to the basket during the game against the Phoenix Suns on January 10, 2023, at Chase Center in San Francisco, California. According to recent reports, the global market value of basketball is currently estimated to be over $90 billion. 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. This is not quite surprising 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.
2. American Football
American Football is Rams tight end Tyler Higbee bulls his way over a trio of Broncos defenders in the second quarter at SoFi Stadium in Inglewood on Sunday, Dec. 25, 2022. After 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.
1. Football
Now, football is one of the most anticipated sports in the world. Allan Saint-Maximin of Newcastle United FC controls the ball as Bukayo Saka of Arsenal defends during a match at Emirates Stadium on January 03, 2023, in London, England. Photo: Serena Taylor. The most popular sport in the world and the one with the largest market share is football. There are several popular leagues that are very famous in the world.
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.
Which is the Richest Sport in the World as of 2024?
Football
