Highest Paid Athletes

Sports, apart from being a great way of testing an athlete's skill and expertise, is also big money. These days, sportsmen achieve iconic status instantly with good performance and hence are picked up by top brands for endorsing their products. Salaries and prize-money apart, this is where an athlete makes the majority of his earnings. Since this is a recent phenomenon of paying millions of dollars to athletes as endorsement fees, most athletes featuring in the below list can easily be called the highest paid athletes of all time.

The list of highest paid athletes in the world is compiled after considering income from salaries, endorsements, prize money and licensing income without deducting any taxes and agent fees.

Top 10 Highest Paid Athletes

No 1. Tiger Woods, Golf, US$ 75 million
Since his car crash in November 2009 and the infidelity scandal that followed, Tiger Woods has struggled to win tournaments and sign new sponsorship deals. Yet he remains the world's best-paid athlete, largely in part to overseas appearance fees that are in the region of around 3 million and two sponsors that have stuck with him; Electronic Arts and Nike. Record sales of the popular video game franchise EA Sports' Tiger Woods PGA Tour 12: The Masters, have further boosted his annual earnings.

No 2. Kobe Bryant, Basketball, US$ 53 million
Kobe Bryant's $24.8 million salary, making him the highest paid NBA player this year is $4 million more than any other player. Bryant is NBA's biggest star in China where he has been recently signed on as pitchman for Mercedes-Benz's local Smart Car brand. Even though Bryant's Lakers crashed out of the playoffs, after two straight NBA titles, Kobe remains immensely popular through his website too.

No 3. LeBron James, Basketball, US$ 48 million
After a nationally televised special announcement, dubbed "The Decision", to quit the Cavaliers for the Heat, LeBron James' reputation suffered and his negative Q score soared 77%. Despite the bad blood, James continues to be greatly in demand. He has the No. 1 basketball shoe on the market and his jersey was the NBA's best seller this season. To manage his business interests, James struck a deal with Fenway Sports Group and as part of the deal James received a very small stake in FSG-owned soccer club, Liverpool.

No. 4. Roger Federer, Tennis, US$ 47 million
He has been passed by both Rafael Nadal and Novak Djokovic in the rankings Roger Federer is arguably the greatest tennis player ever. And even though Federer era may be nearing its end, Roger still commands the most impressive endorsement portfolio in all of sports. He boasts of 10 major deals including Nike, Rolex, Wilson and Credit Suisse. He was the only one of Gillette's original 3 "Champions" to have his deal renewed this year.

No. 5. Phil Mickelson, Golf, US$ 46 million
Mickelson continues to be a hot commodity with sponsors even though his world ranking has dropped the past two years, - only Tiger Woods earns more off the course. Last year Phil was diagnosed with psoriatic arthritis but Lefty maintains that it will have no long-term effect on his golf career. At the end of the year, Mickelson became the spokesman for the makers of Enbrel, Amgen and Pfizer, the drug Phil uses to treat his condition.

No. 6. David Beckham, Soccer, US$ 40 million
As the 36-year-old's career winds down, his prowess on the pitch has declined in recent years. Yet David Beckham still remains one of soccer's top endorser. Thanks to a massive deal with Adidas that pays him royalties from Beckham branded soccer apparel and cleats as well as Beckham-approved clothing from lifestyle lines like ObyO. In May Beckham became electronic giant Samsung's global brand ambassador for the 2012 London Olympic Games.

No. 7. Cristiano Ronaldo, Soccer, US$ 38 million
With an impressive list of sponsors like Nike, Castrol, Clear Shampoo and Banco Espirito, Cristiano Ronaldo is smartly using the social media to expand his brand. Ronaldo has more than twice as many Facebook fans as any other athlete, around 25 million, which makes him more attractive to sponsors. He also has nearly 3 million Twitter followers.

No. 8. Alex Rodriguez, Baseball, US$ 35 million
When the Texas Rangers filed for bankruptcy last year, A-Rod was the top unsecured creditor. After the record-breaking $252 million contract he signed with Texas in 2000, He was owed $24.9 million in deferred compensation. A group led by Chuck Greenberg and Nolan Ryan bought the Rangers at a bankruptcy auction for $593 million and the issue was resolved.

No. 9. Lionel Messi, Soccer, US$ 32 million
Having been voted player of the year the past two seasons Lionel Messi is the world's best soccer player. Messi, nicknamed "The Flea" for his diminutive stature, has recently signed up endorsement deals with PepsiCo, Adidas, Audemars Piguet, Konami, Chery AirEuropa and Dolce & Gabbana Besides these, Messi earns $16 million annually for his craft on the pitch.

No.10. Rafael Nadal, Tennis, US$ 31 million
Nadal's endorsement portfolio has begun to catch up ever since he became the youngest player in the Open Era to capture the career Grand Slam in September, 2010 at age 24. After having earned over $10 million in prize money in the last 12 months, he has begun to endorse brands such as Giorgio Armani and Bacardi. Not to forget that he already has sponsors such as addition to holdovers like Nike, Babolat and Kia Motors.

The list of highest paid athletes in the world does spark a debate as to what exactly makes a sportsperson super rich. There is the talent to begin with, but then comes the ability to create a brand for oneself by endorsing products and involving oneself in marketing activities. This can be a double-edged sword, as some athletes are swooped away by instant wealth and recognition which has a bearing on their performance, while the smart ones raise their game to higher levels, maintaining high standards, so that wealth automatically follows.