Football has seen an incredible transformation over the past two decades. What was once a sport driven by passion and glory has become a global business worth billions of dollars. The change in the financial landscape of football is nowhere more apparent than in the eye-popping contracts signed by the sport’s elite players.
An estimated 3.5 billion fans tune in to watch this sport every year. With 2.5 billion, Cricket is the only sport that comes close.
The Premier League, La Liga, and other top European leagues continue to recruit the world’s greatest players despite the Saudi Pro League’s best efforts and Lionel Messi’s sensational move to Inter Miami.
The Football Elite: Then and Now
Twenty years ago, the salaries of top football players were considerably lower than they are today. Back then, even the most famous and accomplished players could only dream of the wages that are now commonplace. The average contract for a footballing elite player in the early 2000s was a fraction of what we see today.
A top-tier player from that era earned around $5 million annually. These figures have skyrocketed, and today’s top football stars pocket an astonishing $50 million or more annually.
This extraordinary leap in earnings can be attributed to several factors, including the globalisation of football, increased broadcasting rights deals, and lucrative commercial endorsements. As the footballing world expanded its reach, so did the earning potential for its stars. The game’s competitive nature has also led clubs to pay premium salaries for top talents to gain a competitive edge, thus increasing wages.
The Top 10 Highest-Paid Players: Breaking It Down
Let’s delve into the intriguing financial world of football by breaking down the earnings of the top 10 highest-paid players in the world today.
Cristiano Ronaldo (Al Nassr) – £3.4m
After mutually terminating his contract with Manchester United in late 2022, one of the greatest sports players faced significant backlash for switching to Al Nassr in the Saudi Pro League.
Over 20 years into his professional career, Ronaldo has become the first man to score in five World Cups. So perhaps it’s no surprise he ranks near the top of the world’s list of highest-paid football players.
His recent move to Al Nassr – a result of him having “won everything in Europe” – sees the player earning a staggering $200 million a year making the five-time Ballon d’Or winner the highest-earning football player in the world. Although it is absurd to imagine that Cristiano Ronaldo accepted the two-and-a-half-year contract for a football challenge, his bank account is undoubtedly thriving.
Neymar (Al Hilal) – £2.5m
Neymar, who signed a two-year contract with Al Hilal from PSG in August 2023, is the most recent in a long line of famous people to leave Europe for the wealth Saudi Arabia has to offer. The world-record transfer fee PSG paid for the Brazilian attacker will have them wondering if they got their money’s worth, considering that he failed to lead the team to Champions League success in six consecutive seasons.
The promised land of Champions League glory may never have been reached during Neymar’s tenure at PSG, but he is a history-maker in terms of salary. Gambling.com reviews leading Irish gambling operators that provide odds on whether Neymar can clinch another domestic title and even lead his team to Asian Champions League glory.
His £250m salary doesn’t consider his commercial income, which will boost his annual earnings to over £300m. Plus, Neymar will enjoy many benefits from his Saudi employers, including a fleet of supercars, a private jet, and a mansion with a swimming pool, and we imagine a fairly relaxed approach to the Brazilian’s famous party lifestyle.
Karim Benzema (Al-Ittihad) – £3.4m
Karim Benzema brought the curtain down on his hugely successful spell at Real Madrid by leaving the Bernabeu upon the expiry of his contract at the end of the 2022/23 season.
The 2022 Balon d’Or winner then stunned the footballing world by putting pen to paper on a two-year contract with Saudi Professional League outfit Al-Ittihad on a blockbuster free transfer.
During their time at Real Madrid, Karim Benzema inevitably played in the shadow of Ronaldo – and although the pair ply their trade for different clubs in Saudi Arabia, the Portuguese legend still has the edge on salary – just.
On the pitch, Benzema might prove more successful – not only is the French striker three years younger than Ronaldo, his club Al-Ittihad are the current champions of Saudi Arabia. Indeed Al-Ittihad are widely considered the most successful team in Saudi history. The addition of the brilliant Benzema should make them favourites to retain the title next season.
N’Golo Kante (Al-Ittihad) – £1.65m
Few had heard of N’Golo Kante when the French defensive midfielder signed with Leicester City in 2015. That soon changed with Kante one of the key players in the most remarkable title win of modern times.
A big money move to Chelsea followed, with Kante picking up another Premier League title and the Champions League in 2021. He also won the World Cup with France in 2018. Not bad going. Now in his 30s, Kante is another player to make big bucks in Saudi Arabia – joining up with his fellow Frenchman Benzema at Al-Ittihad.
N’Golo Kante was tempted to Saudi Arabia on a two-year contract after his deal with Chelsea expired at the end of the 2022/23 season. The 32-year-old is one of the most decorated players in recent history having won all the major trophies, so why not take it easier in Saudi Arabia?
Kylian Mbappe (PSG) – £1.6m
Thanks to his great performances for club and country, the French national team’s new captain earns his spot at the top of our list. Despite receiving a record-breaking offer to relocate to Saudi Arabia for one season, Kylian Mbappe chose to remain at PSG and may decide to extend his contract.
The French giants PSG used to be the top spenders in the world, but they are now drowning in money from the Middle East. PSG still knows how to spend a few dollars. Despite frequently stating his desire to play for Real Madrid, Mbappe opted against joining the Spanish giants.
Lionel Messi (Inter Miami) – £750,000
After his contract with PSG expired, Lionel Messi chose to join David Beckham’s Inter Miami instead of moving to Saudi Arabia or making an emotional homecoming to Barcelona.
Even though the World Cup winner is nearing the end of his career, he has already had a significant influence on the fortunes of the MLS team. Messi will comfortably be the highest-paid player in MLS and also stands to make millions in commercial deals.
Kalidou Koulibaly (Al Hilal) – £500,000
Kalidou Koulibaly was heralded as the perfect replacement for Antonio Rudiger at Chelsea, but less than 12 months later, he was one of the many high-profile players to switch to Saudi Arabia. Al Hilal forked out a £20 million transfer fee, and despite a sub-par year in the Premier League, he earned a substantial boost to his weekly pay packet.
Senegalese centre-back Kalidou Koulibaly moved from Chelsea to Al Hilal in 2023 and will pick up a handy £30m a year for his services. After a brilliant eight-year stint at Naples, Koulibaly never really got going at Stamford Bridge.
The Impact of High Salaries
The skyrocketing salaries of football’s top stars have several significant consequences for the sport. One is that they have become role models for aspiring players worldwide. The prospect of earning a fortune by playing the game they love is a powerful motivator for young talents. Moreover, the increased financial muscle of top players has prompted clubs to invest heavily in their squads, creating an even more competitive environment.
Conclusion
In just two decades, the financial landscape of football has evolved from modest wages for the elite to staggering sums that make the world’s top players some of the world’s highest-earning athletes.
While the wealth of these players continues to grow, it raises questions about the sustainability of such salaries and the financial health of the sport as a whole. As football’s economic engine continues to churn, fans, pundits, and players will continue to debate the implications of these stratospheric earnings.