For some sports is just fun, while for others, it is a serious business. The Indian sports market is expected to be worth $100 billion by 2027 compared to $27 billion in 2020, as per Anand Rathi Advisors
The upcoming year is set to witness a host of big-ticket sports events such as the Hockey World Cup 2023, ICC Cricket World Cup 2023, Pro Kabaddi League and Indian Super League
Add to that, the rising financial support by the government will give a much-needed fillip to the sports industry. Government spending on sports increased from Rs 970.33 crore in 2011-12 to Rs 3062.60 crore in 2022-23
It is not just the sports industry where the financial stake is rising, players are also witnessing a considerable jump in their net income
*Source: Sportico
As of 2022, the Indian cricketer Virat Kohli with a net income of $33 million was ranked at 61st position among the highest-paid athletes in the world
The American basketball player LeBron James has been ranked as the world’s highest-paid athlete with a net income of $126.9 million followed by Lionel Messi with a net income of $122 million
*Source: Sportico
Rank 3 - Christiano Ronaldo: $115mn
Rank 4 - Neymar Jr.: $103 mn
Rank 5 - Canelo Álvarez: $89 mn
Rank 6 - Stephen Curry: $86.2 mn
Rank 7 - Kevin Durant: $85.9 mn
Rank 8 - Roger Federer: $85.7 mn
Rank 9 - James Harden: $76 mn
Rank 10 - Tiger Woods: $73.5 mn
Fantasy sports attracted more than $1 billion worth of FDI in 2021 with another $2 billion worth of investments over the next three years. Rs 4,360 crore revenue for sports is expected to be generated from digital platforms