The Highest-Paying Sports in the World: Which Sports Pay the Most Prize Money?

Stories

11 Sept

Which Sports Pay the Most Prize Money? Our Full List!

Although millions of people enjoy sports, only a few will become professionals - and even fewer will make a shocking amount of money from their talents.

lewis hamilton holding up a prize — Lewis Hamilton’s annual contract amounts to roughly $55 million - that’s a lot of money! Image credits: Reddit

Listing the sports with the highest available prize money is not only a matter of curiosity - it’s an eye-opening look at how global publicity, sponsorships and television rights all contribute to the sports we love.

Let’s take a look at the highest-paying sports in the world. Which sports pay the most prize money?

Football: The Global Giant

Football is at the top of our list of the highest-paying sports of all-time. The FIFA World Cup in 2022 had a total prize pool of $440 million. Argentina won the tournament and got $42 million for their efforts.

Champions League teams also compete for a large prize pot. For example, Manchester City, the 2022–23 winners, made almost $136 million from prize money and performance bonuses during the season.

Check out our football blog for more!

Forbes reports that stars like Lionel Messi and Cristiano Ronaldo have made more than $1 billion each in their careers. Their club contracts and endorsements take them far beyond what most sportspeople can possibly imagine.

England’s Premier League is one of the richest leagues of all-time. Football shows that when billions of people watch, the money comes in!

Basketball: NBA Riches

The NBA has made basketball one of the highest-paying sports ever. In 2023, the NBA salary cap amounted to $136 million per team, and individual players got rich. That season alone, Stephen Curry of the Golden State Warriors earned over $48 million.

Many NBA teams receive playoff bonuses on top of their earnings. The 2023 NBA champions, the Denver Nuggets, divided $5.8 million as playoff pool money. That may seem low when compared to the soccer World Cup, but it amounts to a lot when paid alongside player contracts.

The NBA Finals have a viewership of over 20 million in the US - and broadcasting agreements around the world continue to drive up the price.

Tennis: Grand Slam Paydays

Tennis is one of the highest-paying sports in the world due to its tournament prizes. In 2023, Wimbledon gave out a record $56.5 million in prize money. Novak Djokovic and Markéta Vondroušová both won singles and took home around $3 million each.

The US Open followed that trend, giving out a total of $65 million. This is the most money ever awarded in tennis. Even players who lose in the first round get checks for tens of thousands of dollars. Players who lost in the first round of Wimbledon in 2023 were guaranteed roughly $70,000 in prize money.

Did you know that Wimbledon’s trophies are some of the oldest in the world? Find out more in our article about the oldest trophies of all-time.

Golf: Tournament Fortunes

Golf may not get as much attention as football or basketball, but it is one of the highest-paying sports in the world. Jon Rahm won the Masters in 2023 and took home $3.24 million from a $18 million payout. The PGA Tour's FedEx Cup Playoffs gave out $75 million in 2022, with Rory McIlroy winning $18 million.

Then LIV Golf came along and shook up the business by providing contracts worth hundreds of millions of dollars. Phil Mickelson's deal was supposed to be worth $200 million, while Dustin Johnson's was said to be worth $125 million.

These numbers have brought golf into a new era of money, making it a strong candidate for the sport with the most prize money in the world.

Boxing and Combat Sports: Cash Knockouts

Boxing has long been one of the most lucrative sports, as huge matches bring in massive amounts of money. In 2015, Floyd Mayweather made roughly $250 million in one night during his fight with Manny Pacquiao. Canelo Álvarez just signed a deal with DAZN for 11 fights totalling $365 million. This is one of the most expensive contracts in sports history!

Mixed martial arts (MMA) is also a part of the discussion. UFC fighters don't make as much money as boxing stars, but the best ones do. For example, Islam Makhachev has earned a combined total of over $5 million during his time in the UFC.

In his UFC 294 rematch against Alexander Volkanovski alone, he made a total of $2.54 million. The combination of show and global TV rights keeps combat sports profitable, but the money is mostly going to just a few stars.

American Football: NFL’s Big Stage

The NFL is the most popular sport in America, and it’s by far one of the most well-paid. In 2023, the Super Bowl pool awarded players on the winning Kansas City Chiefs around $157,000 each, and losing team members around $82,000 each.

The aggregate payout might not be astronomical compared to tennis or golf, but bear in mind that NFL football players also receive some of the highest average salaries in team sports.

Check out our NFL blog for more lists, profiles and interviews!

In 2020, Patrick Mahomes extended his contract to a new record of $450 million, the biggest in the history of the NFL. That, added to league revenue of up to $18 billion in 2022, explains why football players in the US are among the highest-paid athletes globally.

Motorsports: Speed Equals Money

Formula 1 and other motorsports are some of the highest-paying, most expensive sports in the world. In 2023, F1 had an estimated total prize fund of $1 billion, which teams received in relation to their performance and history. The winning team, Red Bull, earned roughly $140 million.

F1 drivers receive huge payouts. Lewis Hamilton’s annual contract amounts to around $55 million, and Max Verstappen is reportedly earning over $50 million per year with Red Bull. With sponsor bonuses and endorsements, motorsports provide not only speed but financial muscle, too.