Forbes: Top 5 Highest Paid Athletes on Earth

Since the 1990s, global sports have become a major financial institution; rivalling that of the film industry. Through financial takeovers by multi-billionaires, or through mind-numbing television deals, the earnings of athletes continues to rise.

This week Forbes released a list of the top 5 highest earning athletes in the world. Whilst these lists are not necessarily indications of who is the best player in their respective sports, it is an interesting insight into the financial aspects of the world's most famous athletes.

*All figures used in this article come straight from the Forbes

#5 Roger Federer ($93.4 million)

Earning $86 million in sponsorship, Federer is the highest endorsed athlete in the world

In at number five is tennis legend Roger Federer who pocketed a handsome sum of $93.4 million. Regarded by many as the greatest sportsman ever, it may come as a surprise to some that Federer only makes it at number five.

However, when considering that, unlike team sports, professional tennis players don't receive a wage, as they're not "employed" by a club, it makes sense that Federer isn't higher on the list.

The vast majority of Roger Federer's earnings come from endorsements, with the Swiss making more money from endorsements than any other athlete. He earns so much from endorsements that if you combined Messi and Ronaldo's earnings it would still fall short of the Swiss maestro's total.

However, Federer's direct earnings from playing tennis over the last year stands $9 million, which is a marginal amount when compared to the salaries that Ronaldo and Messi earned during the same period.

#4 Canelo Alvarez ($94 million)

Alvarez earned $94 million over the last year

Just pipping Roger Federer is Mexican boxer Canelo Alvarez who earned a tidy $94 million over the last year. Unlike Roger Federer however, virtually all of this amount comes directly from boxing, as opposed to sponsorship.

His sponsorship money amounted to $2 million, which Federer averaged in just a week and a half. As aforementioned the rest of his income came directly from his big money fights, where he earned a staggering $92 million.

Due to the ludicrous sums of prize money won by boxers, it was often Floyd Mayweather who dominated these Forbes lists. However, as Mayweather has all but retired, he no longer earns the sums of money he once did.

According to BoxRec, which produces lists of boxing records and averages, stated that, since the end of last year, Alvarez has been the best boxer in the world, pound for pound.

With this in mind, it comes as perhaps no surprise that the Mexican fighter is the highest paid boxer over the last year.

#3 Neymar ($105 million)

Neymar is regarded as one of the best footballers in the world, and also one of the most marketable.

Despite having been consistently plagued with injuries over the last year, Neymar is still the third highest earning sportsperson in the world.

After his record breaking move to Paris Saint Germain, the Brazilian acquired a yearly salary worth an estimated $75 million. This figure places him as the second highest earning footballer when looking at salaries alone.

Ever since Neymar burst onto the football scene many major corporations and brands have made mouth watering deals with the Brazilian. Although his form has been mixed over the last couple of seasons, especially in the Champions League, outside of football his financial growth has been immaculate.

#2 Cristiano Ronaldo ($109 million)

Ronaldo recently won his second trophy for his National side.

In at number two is Portuguese legend Cristiano Ronaldo who earned a stupendous $109 million over the last year. Despite being 34 years of age, Cristiano Ronaldo is still one of the highest earning footballers in terms of club salary.

Whilst he doesn't earn the highest salary amongst football players, he is the highest earner in terms of endorsements. With a total of $44 million in sponsorship deals, Cristiano Ronaldo is the most marketable footballer in the world.

This is a huge sum across all sports, with only Roger Federer and Lebron James earning more than the Portuguese through sponsorship. Whilst Ronaldo is no longer the highest earning footballer in the world, it must be noted that where most players see a reduction in their earnings by the time they reach their mid thirties, Ronaldo has seen a continual growth.

#1 Lionel Messi ($127 Million)

Lionel Messi is the highest-earning athlete in the world

Coming in at number one is Lionel Messi who earned $127 million over the last year. Not only does this make Lionel Messi the highest earning footballer in the world, but it also makes him the highest earning athlete as well.

Unlike Ronaldo, who's wage earnings and endorsement earnings are fairly similar, Messi earns the vast majority of his money through his lucrative contract with Barcelona. His total wage earnings are around $30 million dollars more than his rival Ronaldo earns, and nearly $20 million more than former teammate Neymar.

Messi has had a whopping 8 contract renewals at Barcelona, which serves as an explanation as to why Messi now earns more than Ronaldo every year. Whilst most of his money comes from his salary, he also earns a massive $35 million through endorsements.