Top athlete earnings: examining the persistent gender gap in sports income
Farzad Youshanlou
November 18, 2024

The 2023 list of the highest-paid athletes highlights a stark reality about the current landscape of sports: male athletes overwhelmingly dominate the earnings charts. According to Forbes and Sportico, the top-earning athletes of 2023 are men, with stars like Cristiano Ronaldo, Lionel Messi, Dustin Johnson, Roger Federer and LeBron James,  taking the lead, showcasing the economic power of male-dominated sports like football, basketball, tennis and golf.

FOOTBALL AT THE TOP EARNINGS

The total earnings of these athletes were not only shaped by their on-field performances but also by their personal brands, sponsorship deals, and business ventures. For instance, Cristiano Ronaldo’s $136 million in earnings, which includes a $90 million boost from endorsements and his brand CR7, underscores the massive financial potential of athletes who leverage their influence beyond their sport. Similarly, Lionel Messi, despite his transition to Inter Miami, continued to generate significant wealth, earning a total of $130 million from football and off-field endorsements.

While these figures highlight the extraordinary earning power of male athletes, they also expose the deep gender disparity in sports. The absence of women on this prestigious list reflects broader issues within the industry, where female athletes, despite their talent and accomplishments, often face limited commercial opportunities, lower salaries, and less media visibility compared to their male counterparts.

SERENA WILLIAMS, NAOMI OSAKA, SIMONE BILES…

This imbalance is not just a reflection of talent but of the structural challenges women face in sports. Although a few female athletes, such as Serena Williams, Naomi Osaka, and Simone Biles, have successfully capitalized on endorsements and business ventures, their earnings pale in comparison to the top male earners. The disparity highlights an ongoing struggle for gender equality in professional sports, especially in terms of sponsorships and prize money, where male-dominated sports such as football and basketball still dominate the market.

The dominance of male athletes in the earnings rankings serves as a stark reminder of the need for continued efforts towards closing the gender gap. As the business of sports evolves, the challenge remains: How can we ensure that women athletes receive the same level of recognition, opportunities, and compensation as their male counterparts?

While some progress has been made, the 2023 earnings rankings clearly show that the journey towards equality in sports—both in terms of recognition and financial compensation—still has a long way to go. Who are these athletes?

CRISTIANO RONALDO – $136 Million

Cristiano Ronaldo’s financial success in 2023 highlighted his unmatched global appeal, both on and off the field. His move to Al-Nassr in the Saudi Pro League not only secured him a staggering $46 million salary but also solidified his role as a pivotal figure in expanding football’s reach in the Middle East. This transfer, seen as a landmark in the region’s football ambitions, came with lucrative opportunities to boost his market value and attract international attention to the league.

Off the pitch, Ronaldo earned an additional $90 million, driven by endorsement deals with global brands like Nike, Armani, and Herbalife, as well as income from his personal ventures under the CR7 brand. This empire spans fashion, fragrances, footwear, and even hospitality, with CR7 hotels in various cities. His immense social media following—exceeding 600 million on Instagram alone—ensures he remains a highly sought-after marketing asset, amplifying the reach of his sponsors and cementing his influence in sports and beyond.

Ronaldo’s ability to adapt his brand to diverse markets, from Europe to the Middle East, exemplifies his role as a global icon, transcending football to become one of the most recognizable and profitable athletes in history.

Lionel Messi

LIONEL MESSI – $130 Million

Lionel Messi’s earnings in 2023 reflect the pinnacle of his legendary career, bolstered by a historic World Cup victory and a high-profile move to Inter Miami. His $65 million on-field salary underscores his enduring value as one of football’s top performers, while his ability to match that with $65 million off the field showcases his prowess as a marketing giant.

Messi’s endorsements with global brands like Adidas, Pepsi, and Budweiser anchor his off-field income. As the face of Adidas football, his long-standing partnership highlights his influence on the brand’s global campaigns. Similarly, his collaborations with Pepsi and other high-profile sponsors have positioned him as a universally appealing figure across markets.

His transfer to Inter Miami marked a turning point, opening the doors to new commercial opportunities in the United States. This move significantly elevated Major League Soccer’s profile, drawing international attention and increasing fan engagement. Additionally, Messi’s partnership with Apple and Adidas through unique MLS profit-sharing agreements illustrates his forward-thinking approach to leveraging his influence in innovative ways.

Beyond endorsements, Messi’s ventures into lifestyle and technology, such as the launch of his own Messi-inspired clothing line and involvement in tech-driven projects, further solidify his status as a multifaceted brand. His journey in 2023 not only reaffirmed his dominance in football but also highlighted his role as a transformative figure in global sports marketing.

Kylian Mbappé

KYLIAN MBAPPE – $120 Million

Kylian Mbappé’s extraordinary year in 2023 showcased his evolution into not just a footballing phenom but also a commercial powerhouse. At just 24 years old, he secured an unprecedented $100 million in on-field earnings, primarily due to his contract with Paris Saint-Germain (PSG), which included performance bonuses and a hefty loyalty bonus for remaining with the club amidst transfer speculations. These earnings cemented his status as the highest-paid player in football for 2023.

Off the field, Mbappé’s $20 million in endorsements reflects his growing appeal to global brands. Partnerships with Nike, Hublot, and Dior align with his image as a youthful yet sophisticated icon. Nike has heavily featured Mbappé in its global campaigns, leveraging his electrifying style of play and leadership qualities to inspire younger audiences. His deal with Hublot, where he serves as a brand ambassador, reinforces his reputation as a symbol of luxury and excellence.

What sets Mbappé apart is his strategic approach to managing his brand and career. He is heavily involved in charitable efforts, such as his “Inspired by KM” foundation, which supports underprivileged youth. His marketability is further amplified by his clean image and commitment to using his platform to inspire positive change.

With his meteoric rise in both footballing excellence and off-field influence, Mbappé is not just a future leader in sports economics but a trendsetter for the next generation of athletes navigating the intersection of sports, business, and social impact. His trajectory suggests he will continue to break records both on and off the pitch.

LeBron James

LEBRON JAMES – $119.5 Million

LeBron James continued to redefine what it means to be a modern athlete in 2023, with his $119.5 million earnings reflecting a seamless blend of athletic dominance and business acumen. On the court, his $44.5 million salary and bonuses from the Los Angeles Lakers made him one of the highest-paid players in the NBA, a testament to his longevity and unmatched value as a basketball icon.

Off the court, James earned an astounding $75 million from endorsements, production ventures, and strategic investments. His partnerships with brands like Nike, which has a lifetime deal with him, serve as the cornerstone of his endorsement portfolio. Additionally, his collaborations with companies such as Beats by Dre and Coca-Cola further underscore his status as a global marketing juggernaut.

LeBron’s impact extends far beyond endorsements. As a co-founder of SpringHill Company, a media production firm behind hits like Space Jam: A New Legacy and various Netflix documentaries, he has cemented himself as a major player in Hollywood. His investments in businesses like Blaze Pizza and Fenway Sports Group have diversified his portfolio, turning him into a billionaire while still actively playing.

James’s influence is also deeply rooted in his commitment to social causes, including his groundbreaking I PROMISE School in Akron, Ohio, which provides education and support to underprivileged students. This dual commitment to business and philanthropy makes him a trailblazer, setting a new standard for athletes looking to expand their influence beyond their sport.

In 2023, LeBron James not only dominated the basketball court but also continued to lead a revolution in how athletes can shape industries, create wealth, and leave a lasting legacy.

Canelo Álvarez

CANELO ALVAREZ – $110 Million

Canelo Álvarez solidified his reputation as one of the highest-paid athletes in 2023, with $110 million in earnings, largely driven by his relentless dominance in the boxing ring. Out of this, $100 million came directly from fight purses, making him one of the most lucrative draws in combat sports. Álvarez’s fights remain marquee events, consistently attracting global audiences and generating massive pay-per-view revenues. His ability to headline some of the biggest venues and secure high-stakes bouts against top opponents keeps him at the pinnacle of the sport.

In addition to his fight earnings, Álvarez garnered $10 million from endorsements. His sponsorship deals with brands like Hennessy and Under Armour reflect his global appeal as not only a boxing icon but also a cultural ambassador for his Mexican heritage. Álvarez’s disciplined training regimen and family-oriented image make him a relatable and marketable figure, particularly among Latin American audiences and the global boxing community.

Beyond boxing, Álvarez has diversified his income through business ventures, including investments in real estate and his growing interest in promoting young fighters under his own banner. His strategic approach to both his career and finances ensures he remains one of the most influential figures in sports, leveraging his achievements to secure a lasting legacy.

Dustin Johnson

DUSTIN JOHNSON – $107 Million

Dustin Johnson’s impressive $107 million earnings in 2023 underscore his status as one of the highest-paid golfers and a key beneficiary of golf’s evolving financial landscape. A significant portion of this income stems from his decision to join LIV Golf, the Saudi-backed league that disrupted the traditional golfing hierarchy with its lucrative contracts and prize pools. Johnson reportedly received a massive signing bonus and performance incentives, which substantially boosted his annual earnings.

On the course, Johnson maintained his reputation as a consistent competitor, securing notable winnings from LIV Golf’s events, which feature some of the highest payouts in the sport. His success within this new framework demonstrated his ability to adapt and thrive in a competitive and rapidly changing environment.

Off the course, Johnson’s endorsements remain a vital part of his financial portfolio. Deals with brands like TaylorMade, Hublot, and Adidas highlight his marketability as a golf icon. These partnerships not only amplify his global presence but also reflect his appeal across both traditional golf enthusiasts and newer audiences drawn to the LIV Golf phenomenon.

Dustin Johnson’s decision to align with LIV Golf has not only elevated his financial standing but also positioned him as a pivotal figure in a transformative era for professional golf. As the sport continues to evolve, Johnson’s career choices and continued success could shape the narrative for the next generation of golfers.

Phil Mickelson

PHIL MICKELSON – $106 Million

Phil Mickelson’s $106 million earnings in 2023 cemented his place among the world’s top-earning athletes, underscoring his remarkable longevity and influence in professional golf. A major portion of his income came from his participation in LIV Golf, where his lucrative signing bonus and substantial winnings in the league’s high-stakes tournaments contributed significantly to his financial success. As one of the biggest names to join LIV Golf, Mickelson played a pivotal role in elevating the league’s profile and attracting global attention.

Mickelson’s earnings were further bolstered by his longstanding sponsorships and partnerships with brands like Callaway, Rolex, and Amstel Light. Although some relationships were briefly affected by his controversial remarks about LIV Golf’s backing, his marketability and iconic status in the sport have allowed him to maintain and rebuild his endorsement portfolio effectively.

Beyond his on-course achievements, Mickelson has diversified his income through ventures in course design, media appearances, and business investments, reinforcing his reputation as a savvy entrepreneur. His career trajectory showcases not only his enduring appeal as a golfer but also his ability to navigate the shifting dynamics of the sport while maximizing financial opportunities.

Mickelson’s continued prominence in the golf world exemplifies how legends of the game can remain financially and culturally relevant well into the latter stages of their careers. His contributions to LIV Golf and the sport at large ensure his lasting legacy both on and off the course.

Stephen Curry

STEPHEN CURRY – $100.4 Million

Stephen Curry’s $100.4 million earnings in 2023 reflect his status as one of basketball’s most influential figures, both on and off the court. His salary of $48 million from the Golden State Warriors remains a testament to his unparalleled skill and leadership, but it’s his endorsement portfolio that really propels him into the upper echelons of athlete earnings. With over $50 million coming from deals with major brands like Under Armour, Chase, and Nissan, Curry has become one of the most bankable stars in sports.

His enduring partnership with Under Armour, which began in 2013, is perhaps the most notable aspect of his endorsement success. Curry’s signature shoe line has become a key product for the brand, challenging the dominance of Nike and Adidas in the basketball footwear market. His image, built around a combination of humility, work ethic, and on-court brilliance, resonates deeply with fans, making him an ideal spokesperson for a wide range of products—from tech to luxury goods.

Additionally, Curry has diversified his income through ventures in media and technology. His production company, Unanimous Media, focuses on creating content that reflects his values and interests, including projects that promote family-friendly entertainment and inspirational storytelling. His investments in emerging tech and philanthropic efforts through his foundation further extend his financial reach and influence.

Stephen Curry’s financial success in 2023 underscores his savvy as a businessman and his ability to extend his brand beyond basketball, ensuring that his impact will be felt long after his playing days are over.

Roger Federer

ROGER FEDERER – $95 Million

Roger Federer’s $95 million earnings in 2023, despite his retirement in 2022, demonstrate the lasting power of his personal brand and marketability. While his on-court career concluded, Federer’s endorsement portfolio continues to generate immense income, with the Swiss legend remaining one of the most sought-after athletes for partnerships.

Federer’s long-term contracts with premium brands like Rolex, Uniqlo, and Wilson have remained the cornerstone of his income. His relationship with Rolex, in particular, has been one of the most enduring and lucrative athlete endorsements, reflecting his image as a symbol of elegance, precision, and timeless style. Similarly, his deal with Uniqlo, which continues despite his retirement, highlights his influence in the fashion and lifestyle space. These high-end brands view Federer as a global ambassador, his image still associated with excellence and sophistication even after stepping away from competitive tennis.

Federer’s ability to maintain his commercial relevance is also evidenced by his involvement in various philanthropic ventures, including his foundation focused on education for children in Africa. His sustained success in the business world emphasizes the growing trend of athletes leveraging their personal brands to ensure financial prosperity long after their professional careers end.

Ultimately, Federer’s earnings in 2023 reveal that his legacy extends far beyond tennis, showing how athletes can continue to profit from their image and endorsements long after their playing days are over.

Kevin Durant

KEVIN DURANT – $89.1 Million

Kevin Durant earned $89.1 million in 2023, showcasing his impressive ability to balance his basketball salary with substantial off-court ventures. As one of the NBA’s top players, Durant earned $39.1 million from the Brooklyn Nets and Phoenix Suns, with performance bonuses and team incentives included. However, his financial success is significantly bolstered by his endorsement deals and investment strategies.

Durant’s deal with Nike remains one of his most lucrative partnerships. His signature line of sneakers continues to generate massive sales, securing him a steady stream of income. His endorsements with brands like NBA 2K, Spotify, and Panini further highlight his appeal as a commercial powerhouse, with his brand transcending the basketball world into lifestyle and entertainment.

Off the court, Durant has also strategically invested in a variety of startups, including ventures in tech, media, and e-sports. His venture capital firm, 35 Ventures, has seen success with investments in companies like Postmates, Coinbase, and the sports media outlet The Athletic. These investments contribute to his growing financial portfolio and set the stage for long-term wealth well beyond basketball.

Durant’s diversified earnings are a testament to the expanding role of athletes as investors and entrepreneurs, reflecting the broader trend of athletes diversifying their income streams and building lasting legacies through strategic business decisions.

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