PHOTO: Conor McGregor celebrates after another win in the Octagon that pushed his annual earnings to $48 GETTY IMAGES
Pro sports have long been recession proof, with their value, appeal and resilience carrying them through 9/11, the Great Recession, a string of natural disasters and even war.
But they were no match for contagion, which caused income for the 100 highest-paid athletes to fall for the first time in four years, landing at $3.6 billion of combined pre-tax earnings. The downward trend is likely to continue into next year as leagues stare at an uncertain calendar and an almost-certain drop in attendance and revenue when competitions resume later in the year.
The financial fallout has varied by sport and for some by league. MLB player salaries were slashed sharply while NFL players have yet to be affected. Some soccer players in the U.K.’s Premier League didn’t take a pay cut while Spain’s La Liga saw salaries decline by as much as 70%. Weaker Formula 1 teams cut driver salaries while the richest squads have yet to hold back any pay. Boxers like Canelo Alvarez and Anthony Joshua missed out on $30 million paydays with bouts canceled.
Roger Federer aced the top spot on the list with $106.3 million after on-field salaries for soccer’s Lionel Messi and Cristiano Ronaldo were cut. About $100 million of Federer’s total came from endorsements and appearance fees paid by 13 partners, including Nike, Credit Suisse, Barilla and Rolex.
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