Tag: Forbes

Jon Rahm is the world’s highest-paid athlete in 2023 after move to LIV Golf

Rahm is among the world’s richest athletes.

Saudi Arabia’s Public Investment Fund hasn’t been afraid to dish out money to lure the top PGA Tour stars to come and play for LIV Golf.

Jon Rahm is no exception. In fact, he’s the new bar.

Although an exact figure has yet to be determined, estimates on how much Rahm was paid to leave the PGA Tour were in the $400 million to $600 million range. The Telegraph reported the most precise number at $566 million, with $302 million being paid upfront.

Those figures would move Rahm, the defending Masters champion and 11-time PGA Tour winner, into an upper echelon of athletes earning more than $500 million in their career. He would be the youngest at 29.

Moreover, if the estimates of Rahm’s signing bonus are true, he would be the highest-paid athlete in the world in 2023, according to Forbes.

Soccer players Cristiano Ronaldo, Lionel Messi and Kylian MBappe are at the top of the list with combined earnings on and off the field of $136 million, $130 million and $120 million, respectively. Forbes lists the top-50 athletes, with 15 of those being from the NBA.

Even if that $302 million number was cut in half, Rahm would still be at the top.

The highest-paid golfers this year before Rahm’s signing were a pair of American LIV golfers, Dustin Johnson ($107 million) and Phil Mickelson ($106 million).

Rahm had previously said $400 million wouldn’t change his way of life when previously asked about moving to LIV Golf. However, he admitted money is one of the reasons he went.

“I mean, I’m not going to sit here and lie to you,” Rahm said. “It’s definitely one of the reasons.

“Every decision I feel like we make in life there will be somebody who agrees and likes it and somebody who doesn’t, right. I made this decision because I believe it’s the best for me and my family and everybody I’ve been able to talk to has been really supportive of me,” Rahm continued. “So I’m very comfortable with my decision. I’m no stranger to hearing some negative things on social media or in media. It’s part of what it is, we’re public figures but you just learn to deal with it right? This certainly won’t define who I am or change who I am.”

However, the number of zeros at the end of his bank statement just went up astronomically.

Forbes study: Rockets valued at $4.4 billion, No. 8 among NBA teams

The Rockets are now valued at $4.4 billion and No. 8 among all NBA teams, according to a new Forbes study. That’s double what owner Tilman Fertitta paid in 2017.

According to Forbes, the average NBA team is worth $3.85 billion this season — up 35% from 2022 and higher by 75% from 2019.

For the Houston Rockets, owned by Tilman Fertitta, their $4.4-billion valuation in 2023 is up by 38% from a year ago and currently ranks No. 8 among the league’s 30 franchises. That figure is exactly double the $2.2-billion price that Fertitta paid upon buying the team from its former owner, Les Alexander, in October 2017.

Here’s how Forbes dissects the increasing values:

The surge in values was driven by the two sales of controlling stakes in NBA teams during the past 12 months—the Phoenix Suns sold for $4 billion to Matt and Justin Ishbia in February, and in August, Michael Jordan sold the Charlotte Hornets for $3 billion to Rick Schnall and Gabe Plotkin—as well as 25% of the Milwaukee Bucks at a $3.2 billion valuation by Jimmy and Dee Haslam in April.

The escalation in sale price multiples is due to the expectations over a major increase in media rights.

Going forward, Forbes believes future NBA expansion in desirable markets such as Las Vegas and Seattle could further bolster these valuations. The complete 2023 list, which is yet again headlined by the Golden State Warriors ($7.7 billion) at No. 1, is available here.

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Where are the Commanders valued in Forbes annual team rankings?

How did the sale impact Washington’s team value? What about others?

The Washington Commanders have a new owner. A group led by Josh Harris purchased the Commanders in July for a record $6.05 billion. This week, Forbes released its annual NFL team values.

As usual, the Dallas Cowboys came in at No. 1. But where did the Commanders rank after a record-breaking sale price?

Washington came in at No. 8, with a value of $6.05 billion. The Commanders fall two spots, with the Las Vegas Raiders and New York Jets passing them in 2023.

Considering Washington’s issues under Daniel Snyder, a terrible home stadium, lagging ticket sales, etc. and a fractured fan base, continuing to be ranked inside the top 10 over the years was impressive. It’s one of the reasons why the Commanders were considered a sleeping giant.

Harris and his partners knew they were entering the perfect situation. Anyone replacing Snyder would be treated as a hero. That’s been true, and Harris has helped himself by interacting with fans on multiple occasions, including buying them beer.

Business has already picked up since Harris took over in late July. Washington has announced three new corporate sponsorships that include Verizon and Anheuser-Busch. Additionally, season ticket and suite sales are on the rise.

Harris and team president Jason Wright have said the Week 1 home opener against the Arizona Cardinals is trending toward a sellout, as the Commanders just released some standing-room-only tickets this week.

The Cowboys’ value increased from $8 billion in 2022 to $9 billion in 2023. A big reason for the increase was the Commanders’ sale.

From Forbes:

The average NFL team is now worth a record $5.1 billion, 14% more than last year, powered by more television money and the $6.05 billion sale of the Washington Commanders—at 11 times revenue—to a group led by billionaire Josh Harris in July.

Imagine Washington’s eventual value when the franchise finally lands a new stadium.

Forbes estimates Broncos are worth $5.1B, 13th-most in the NFL

One year after the Broncos were sold for $4.65 billion, Forbes estimates that the team is now worth $5.1 billion.

Before the 2023 NFL season kicks off next week, Forbes has released their annual (estimated) valuations of all 32 teams.

The Denver Broncos are worth an estimated $5.1 billion, which marks a 10% increase from what Forbes estimated in 2022.

The Broncos are listed as the 13th-most valuable team in the league, second in the AFC West (the Las Vegas Raiders are worth $6.2 billion).

A Rob Walton-led new ownership group purchased the franchise for $4.65 billion last summer. Walton is the majority owner but his son-in-law, Greg Penner, is a co-owner and the team’s CEO who handles day-to-day ownership duties alongside his wife, co-owner Carrie Walton Penner.

The Walton-Penner family also brought in three minority owners after buying the team last year: Mellody Hobson, Mellody Hobson and Lewis Hamilton.

Denver’s new owners invested more than $100 million in stadium renovations this offseason, and a brand new stadium might be in store sometime down the road.

The Dallas Cowboys ($9 billion) are the most valuable NFL team and the Cincinnati Bengals ($3.5 billion) are the least valuable. To view the complete list of NFL team valuations, visit Forbes.com.

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Forbes raises Saints’ valuation by half a billion dollars going into 2023

In the wake of several franchise sales, Forbes estimates that the New Orleans Saints’ valuation has risen by half a billion dollars going into 2023:

Several NFL franchises have sold recently, with the Denver Broncos selling for $4.65 billion and the Washington Commanders selling for a whopping $6 billion. Those exchanges have helped Forbes’ Mike Ozanian and Justin Teitelbaum estimate franchise values for all 32 teams in the league on the eve of the 2023 NFL season, including the New Orleans Saints.

And it’s a big number: Forbes estimates that the Saints are now valued by as much as $4.08 billion. That’s a climb over their $3.575 billion valuation by Forbes this time last year, but it reflects something the league is acutely aware of: business is booming.

Forbes says the average NFL team is worth $5.1 billion, an increase over the $4.43 billion valuation they suggested last year. With new broadcast rights deals padding out the league’s pockets, that number is expected to continue to climb. The Saints certainly helped raise their valuation by inking a long-term naming rights deal with Caesars Entertainment for the Superdome, which is entering the final stage of widespread renovations in advance of Super Bowl LIX in 2025 (preceded by a record-breaking three-day Taylor Swift concert tour in 2024).

What does it mean for the Saints and New Orleans, though? Team owner Gayle Benson, 74, has made it clear she has no plans to sell the team. She also has no heirs. In 2021 multiple local outlets reported her succession plan in the event of her death: any buyer would be contractually obligated to keep the team in Louisiana, with proceeds from a sale to go to local charities in the region. Team president Dennis Lauscha is to serve as the executor of her estate, with senior executives like Mickey Loomis and Greg Bensel also involved, if need be.

Hopefully that isn’t something we’ll need to worry about for a long time. Benson has been quick to invest in the Saints’ team facilities and her willingness to regularly cut large checks for signing bonuses has allowed Loomis and his chief assistant Khai Harley to restructure contracts as often as they have (something other small-market teams haven’t enjoyed).

Still, Forbes’ valuation ranks the Saints all the way down at No. 27 among their peers. At the end of the day they’re not based in one of America’s largest or most affluent metro areas. New Orleans punches above its weight class, and that isn’t something fans should take for granted.

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Forbes lists Broncos as world’s 19th-most profitable sports team

Forbes says the Broncos are the 19th-most profitable sports team in the world with an estimated three-year operating income of $266 million.

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Buying the Denver Broncos for $4.65 billion last summer looks like a great value purchase for the Walton-Penner family in hindsight.

Since then, the value of NFL teams has continued to skyrocket, and the club’s annual revenue is climbing as well. Forbes recently published a list of the world’s most profitable sports teams and 13 NFL teams made the top 25.

Forbes ranked teams by their 2020-2022 operating income, described as “earnings before interest, taxes, depreciation and amortization.” The Broncos are ranked No. 19 on the list with an estimated $266 million in operating income over the last three years.

Of the NFL teams, the Dallas Cowboys are ranked No. 1 ($1.171 billion), followed by the New England Patriots ($623 million) at No. 2, the Houston Texans ($356 million) at No. 6, the New York Giants ($333 million) at No. 9, the Los Angeles Rams ($318 million) at No. 11, the Washington Commanders ($290 million) at No. 13, the Chicago Bears ($288 million) at No. 15, the Jacksonville Jaguars ($281 million) at No. 17 and then Denver at No. 19.

Rob Walton, the son of late Walmart founder Sam Walton, is the Broncos’ majority owner, but his son-in-law, Greg Penner, handles the team’s day-to-day ownership duties. Football runs in the family, and business is booming.

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13 NFL teams made Forbes’ top-25 list of most profitable sports teams in the world

Here is a look at the 13 NFL teams that cracked Forbes’ top-25 list of most profitable sports teams across the world.

The NFL is king, and the latest Forbes list of profitable sports franchises in the world demonstrates the royalty of American Football.

Forbes took a look at the operating income, which they listed as “earnings before interest, taxes, depreciation and amortization,” of sports teams from MLB, NBA, NFL, NHL, and soccer over the past three years.

The NFL had 13 teams make the top-25 of the list, by far the most representation of any sports. Second was the NBA with six. The Premier League had four teams.

Here is a look at the 13 teams that made Forbes’ list and their operating income.

Report: Rockets in world’s top 25 most profitable sports franchises

According to a new Forbes study, the #Rockets rank No. 23 among global sports franchises in profits this decade. They’re seventh among NBA teams.

The Houston Rockets have struggled on the court in the last three seasons, finishing with one of the NBA’s worst two records in each. However, their earnings away from the game have been world class.

According to Mike Ozanian from Forbes, the Rockets rank No. 23 in the world in recent sports franchise profits. They have banked $240 million over the past three years. The financial list is determined by operating income, which Forbes defines for its study as earnings before interest, taxes, depreciation and amortization.

The 2020s-era list compares teams from the NBA, National Football League (NFL), Major League Baseball (MLB), the National Hockey League (NHL), and soccer franchises from various global leagues.

That No. 23 placement puts the Rockets — owned by Tilman Fertitta, who bought the team in 2017 — between the No. 24 Philadelphia Eagles and No. 22 Pittsburgh Steelers. The Texans, who also play in Houston, finished at No. 6 overall and third among NFL teams.

Houston is seventh among NBA teams, trailing the New York Knicks (No. 4, $623 million), Golden State Warriors (No. 7, $348 million), Los Angeles Lakers (No. 8, $333 million), Chicago Bulls (No. 14, $288 million) and Boston Celtics (No. 18, $269 million).

The complete list can be viewed here.

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Ronaldo becomes world’s highest-paid athlete after Saudi move. Will Messi follow him?

The Al Nassr star is back atop the list for the first time since 2017. But his stay may be short lived

Cristiano Ronaldo has become the world’s highest-paid athlete after his move to Saudi Arabian side Al Nassr, according to Forbes.

The publication released its list of the 10 highest-paid athletes for 2023, which was topped by Ronaldo for the first time since 2017. Lionel Messi came in second and Kylian Mbappé was third.

The trio were the only soccer players on the list, and all draw their huge salaries from Middle Eastern countries. Messi and Mbappé are teammates at Qatari-owned PSG.

Except, not for long! Widespread reports on Wednesday stated that Messi would be leaving PSG at the end of the season when his contract expires. The divorce has been in the works for a while, but was sped up when PSG suspended Messi on Tuesday for an unauthorized trip to — you guessed it — Saudi Arabia.

Messi’s next trip to Saudi Arabia could see him regain his spot atop the Forbes list in 2024. The Telegraph reported that Messi’s representatives are in talks with the Saudi government — for which Messi is already a paid spokesperson — over a deal to bring him to the Saudi Pro League that would be worth a total of $400 million per year.

That would dwarf Ronaldo’s total package of an estimated $136 million.

In a very related story, golfers Phil Mickelson and Dustin Johnson also appear on the Forbes list after leaving the PGA Tour for Saudi-backed LIV Golf.

Forbes Top 10 money list in 2023

1. Cristiano Ronaldo ($136 million)
2. Lionel Messi ($130m)
3. Kylian Mbappé ($120m)
4. LeBron James ($119.5m)
5. Canelo Álvarez ($110m)
6. Dustin Johnson ($107m)
7. Phil Mickelson ($106m)
8. Stephen Curry ($100.4m)
9. Roger Federer ($95.1m)
10. Kevin Durant ($89.1m)

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Phil Mickelson, Dustin Johnson on Forbes list of 10 highest-paid athletes of 2023

DJ and Lefty are cashing some big checks.

The move to the LIV Golf League has deepened the pockets of Dustin Johnson and Phil Mickelson.

On Tuesday, Forbes announced its list of the top-10 highest-paid athletes of 2023, and Johnson and Mickelson each make an appearance. That shouldn’t be a surprise, considering LIV is funded by the Public Investment Fund in Saudi Arabia and each golfer got huge signing bonuses when deciding to leave the PGA Tour and join the breakaway circuit.

However, that additional money has them being compensated with the likes of the most elite athletes in the world.

Johnson is sixth on the list, earning $107 million this year. All but $5 million of that is from on-course earnings. Last year, Forbes reported Johnson made $29 million off the field, but sponsors weren’t too keen with Johnson and others signing with LIV Golf.

Johnson made a LIV-best $35.6 million in prize money, including $18 million for winning the season-long individual championship.

Mickelson comes in seventh on the list, earning $106 million. All but $2 million came in on-course earnings. He earned $1.6 million for his T-2 at the Masters last month. He ranked 31st on last year’s list with $45.3 million earned.

Topping the list is soccer star Cristiano Ronaldo, with Lionel Messi in second and Kylian Mbappe in third.

Behind Mickelson in eighth is basketball star Stephen Curry.

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