5 sports competitions with the biggest prize money
Sport has grown from a simple pleasure to a legitimate way to a global money-spinning business. The global sporting industry is expected to be worth US$512.14 billion (AU$765.7 billion) by 2023.
As the globe tunes into these major athletic events, revenue increases. Ads, sponsorships, and the like.
While the organizers stand to profit massively, the competitors stand to lose a lot of money. But which sports events in the globe have the most money? What are the most expensive sports competitions?
Below are sports competitions and their million-dollar prize money:
World Series (Baseball)
Despite its shifting popularity outside of America, America’s pastime continues to have a significant winning prize. The annual championship is known as the World Series, and the best-of-seven series produces one top team each year. The competition is one of America’s oldest, and since 1903, it has crowned a financially successful team. In 2023, the winning team is expected to get approximately $52 million.
Total purse: $160 million
Amount paid to winning team: $52 million
FIFA World Cup (Football)
The FIFA World Cup, football’s biggest international tournament, matches the world’s finest national teams against one another, ending in the final. The apex of world football draws over 3.3 billion spectators worldwide and pays the champions handsomely from FIFA. Argentina defeated France in dramatic manner in the most recent World Cup, not only leaving a legacy for captain Lionel Messi, but also raising over $66 million for the Argentine football association.
The majority of that money goes to the domestic football program, but the players and coaching staff are sure to get a large bonus as compensation for their efforts.
Total purse: $658 million
Amount paid to winning team: $66 million
The NBA Championship (Basketball)
Despite the NBA’s global popularity, teams in America are not as well compensated as clubs in other sports in Europe. That is not to suggest they receive nothing. Winning the NBA Finals gives the winning team a sizable percentage of the NBA Playoff Pool, which was slightly over $40 million at the end of the most recent season. This figure is divided across all postseason teams based on performance. It is projected that the Denver Nuggets, the most recent winners, earned $7.1 million.
Total purse: $40 million
Amount paid to winning team: varied based on performance.
Tour Championship/FedEX Cup (Golf)
The golf business has always been heavily financed, as evidenced by the advent of the Saudi-backed LIV. With the new merger in the works, expect this prize pool to change dramatically. The Tour Championship is the PGA Tour’s last match, and while it is not officially classified as a Major, it does come with a sizable purse. Throughout the PGA season, golfers accumulate points to compete in the final championship, with the top 30 earners competing in the Tour Championship.
The golfer with the most points after the Tour Championship match (typically the winner) wins the FedEx Cup and a stunning $26.9 million from the $112.1 million prize pool. Otherwise, there will be other opportunities to win large over the season. The Players Championship has the tour’s largest prize money, with the winner receiving $6.7 million.
Total purse: $112 million
Amount paid to winner: $27 million
UEFA Champions League (Football)
It is the world’s largest club event, regardless of sport. Winning the competition final earns the team around $33 million, but nearly three times that amount can be won along the road.
Money is awarded to teams based on group and knockout stage wins, with a maximum prize money of approximately $139 million possible if the club wins all of its games. With such a large amount of money on offer, it’s easy to see why it’s such an honor for teams to even qualify, let alone try to win.
Total purse: $3.3 billion
Amount paid to winning team: $33 million