Saudi Arabia injection into sport results in record earnings for stars, says Forbes

As unsurprising as it is astounding, the Forbes list released this week of the highest paid sportsmen in 2023 is somewhat dominated by athletes who have taken advantage of Saudi Arabia’s recent cash injection into sport.

While the Middle Eastern country has been widely criticised for human rights abuses, its investment into sport has resulted in a record payout for the world’s top athletes in various codes.

According to Forbes, the world’s 10 highest-paid athletes collected an estimated $1.11 billion (R20.18 billion) before taxes and agents’ fees over the last 12 months, an increase of 12% from last year’s $990 million (R17.9 billion).

Portuguese football player Cristiano Ronaldo, who parted ways with Manchester United in November to join Saudi Arabia’s Al Nassr, tops the list with an estimated haul of $136 million (R2.47 billion). Just his playing salary is now worth $75 million (R1.36 billion) a year.

Fellow football player Lionel Messi of Argentina is second on the Forbes list, with the Paris Saint-Germain star raking in $130 million (R2.36 billion).

French footballer Kylian Mbappe is third, with most of his income coming from his $100 million salary at PSG. His total earnings over the last year was estimated to be $120 million (R2.18 billion).

Basketball icon LeBron James is fourth overall, and the first non-footballer on the list, with the Los Angeles Lakers forward making $119.5 million (R2.17 billion) in the last 12 months.

Mexican boxer Canelo Alvarez made the most money in the ring, raking in $110 million (R2 billion) after scoring big with blockbuster fights against Dmitry Bivol and Gennadiy Golovkin.

LIV Golf

Another individual who has broken the bank by turning to Saudi Arabia is American golfer Dustin Johnson, who made $107 million (R1.94 billion) after signing up with the controversial Saudi-backed LIV Golf series. He is sixth on the Forbest list.

Just behind him on the list is countryman Phil Mickelson in seventh, who also benefited financially from dropping the PGA Tour for LIV Golf and made $106 million (R1.92 billion).

The other three sportsmen in the top 10 are American basketball player Stephen Curry ($100.4 million/R1.82 billion), Swiss tennis player Roger Federer ($95.1 million/R1.73 billion)) who made most of his income from endorsements after retiring in September, and basketball player Kevin Durant ($89.1 million/R1.62 billion).

Clarifying its methodology in creating the list, Forbes said on-field earnings figures included all prize money, salaries and bonuses, while off-field earnings were an estimate of sponsorship deals, appearance fees and memorabilia, and licensing income.