Sports is a highly popular form of entertainment around the world, and it generates significant revenue. It also brings a variety of diverse cultures together and encourages participation among everyone. The sports sector is an area where hundreds of billions of dollars of profit are made on a regular basis, but the question is which of these sports create the most revenue. In other words, what are the richest sports in the world in 2024? Read on to find out all about them.
10 Richest Sports in the World in 2024 – Ranked
1. Football – $600 billion
Football is the richest sport in the world with a Net Worth of around $600 Billion as of 2024. The sport is played by around 250 million people, often known as soccer, throughout 200 nations around the world. It is one of the most well-known sports, with a $600 billion global market value. Similarly, a professional athlete in this industry earns an average of $4 million. On Forbes’ list of highest-paid athletes, there are multiple football stars featured, including Lionel Messi with a net worth of $130 million at #1 rank, Cristiano Ronaldo at #3 with a net worth of $115 million, and Neymar at #4 with a $95 million net worth. Also read: Top 5 World’s Highest Paid Footballers in 2022 Latest List
2. American Football – $200 billion
According to recent estimates, NFL or American Football is worth almost $200 billion and currently ranked at 2nd in this list. This year, the average salary for players in the National Football League was $2.4 million. Needless to say, all of the clubs’ main players earn significantly more. Last year, the NFL generated an incredible $11,394 million in revenue, the most of any league in any sport. Some of the richest athletes compete in this sport, and this includes Tom Brady, who is among the top 10 highest-paid sportsmen this year, according to Forbes.
3. Basketball – $90 billion
According to current estimations, NBA now has a global market value of nearly $90 billion and currently placed at 3rd in the list of Richest sports in the world. It is an extremely popular sport in countries like the USA, Canada, Australia, etc. Michael Jordan was the first person to initially increase the sport’s global popularity, even though it had always been extremely popular in the United States. Without a doubt, the United States contributes the largest proportion.
As of 2022, the average annual salary of an NBA player is approximately $3.8 million, and LeBron James, a top player in the sport, earns a staggering amount of $96.5 million. Also Read: Top 5 Richest NBA Players in the world
4. Ice Hockey – $60 billion
As of 2024, the net market value of ice hockey was around $60 billion. Ice hockey is famous for its rapidity of reaction combined with a combination of talents, which is why it is called the “Fastest Game on Earth.” Many ice hockey players are on Forbes’ list of highest-paid athletes. One of its most popular tournaments, the NHL, pays its average professional player roughly $2.2 million per year. In the 2021-22 season, the revenue of $6.1 million was brought in by the tournament.
5. Baseball – $40 billion
Baseball as a company is currently worth around $40 billion. A professional baseball player currently earns an average of $8.5 million per year. Star players, on the other hand, make a lot more money. However, only a few countries actively engage in this sport. Last year, Major League Baseball, baseball’s highest-tier tournament, generated $8,957 million in revenue. In addition, this season, each team has earned an average of $298.6 million.
Clayton Kershaw, one of baseball’s best players, was paid $34.5 million last year. His team paid him $33.8 million each year in pay. In addition, he received $750,000 from sponsorship deals in 2022. Also Read: Top 5 Richest Sportsperson in the world
6. Golf – $7 billion
Often known as the game for the rich, Golf has steadily grown in popularity over the years. The market value of the golf industry has touched US$7 billion, according to recent reports. According to a Golf Adviser article in 2019, in the US, the sport welcomed 2.6 million beginners in 2018, almost the same number as the previous year, a number that remains at an all-time high. Golfing legend, Tiger Woods, earned US$43 million last year, the most among all golfing stars.
7. Cricket – $6 billion
Cricket is played by around 15+ countries as one of the main sport and it involves a lot of cash flows due to a lot of international competitions and series between countries. According to a recent estimate, cricket’s total industry net worth reached $6 billion this year which makes this sport to include in the list of richest sports in the world. In addition, as of 2024, the average annual income of a professional cricketer has increased to about $60,000.
The Indian Premier League is one of the most popular cricket tournaments, who has grossed $633.62 million last season. Each franchise in that event also made an average of $79.2 million in income.
8. Tennis – $6 billion
The Tennis Sports industry reached $6 billion this year, with an increase of 1.1% from the previous season. It features plenty of wealthy athletes, with the typical player earning $30,000 per year. The French Open is considered to be one of the most prestigious tennis tournaments, and it has grossed $2.6 million in the year 2022 alone.
Tennis is also home to two of the world’s wealthiest athletes. Rafael Nadal earns $40 million per year, whereas Roger Federer earns $90.7 million per year. Also read: 5 Longest Match-Winning Streaks in Tennis History
9. Auto Racing – $5 billion+
With a compound annual growth rate (CAGR) of 7.2% between 2021 and 2026, the global market for Motorsport is expected to grow from US$4.8 billion in 2021 to US$7.8 billion in 2026.
The market value of the motor racing industry exceeded $5 billion in 2022. By 2027, it is predicted to cross the $7.5 billion mark. And that success has earned it a place among our list of the richest sports in the world. Racing stars’ average annual earnings reached $70,000 in 2022. In important events such as the Grand American Rolex Series, pro drivers can earn up to $200,000 per race.
In its most recent season, Formula One, one of the most popular car racing competitions, grossed $1.83 billion, with $166.4 million as revenue for each team.
10. Boxing
Boxing has long been one of the most fascinating and well-known sports in the world, thanks to the years of thrills and excitement it has brought. A professional boxer is also expected to make $50,000 on average. Professional fighters earn between $1,000 and $4,000 per battle as amateurs.
Similarly, it steadily rises to a range of $5,000 to $10,000 for each bout. Not to mention, boxers receive additional incentives for winning fights and have their own sponsors and endorsement deals.
The total value of the sport is not cleared yet. But, we can guess by watching Floyd Mayweather’s net worth, which according to sources, is $450 million, and with earnings besides his boxing career is estimated to be $1.1 billion Also read: 10 Biggest Partnerships in Indian Premier League
Thank you for reading it. Leave us a comment if you liked it.
Do follow us on: Google News | Facebook | Instagram | Twitter | Youtube | LinkedIn
Have a good day ahead 🙂
