The most highest paid sport in the world is professional basketball, specifically the National Basketball Association (NBA) in the United States. According to Forbes, the average player salary in the NBA for the 2019-2020 season was $7.7 million.
This is significantly higher than the average player salary in other major sports leagues such as the National Football League (NFL) at $2.7 million, Major League Baseball (MLB) at $4 million, and the English Premier League (EPL) at $3.8 million.
One of the reasons for the high player salaries in the NBA is the league's global popularity and reach. The NBA has a huge fanbase around the world and generates billions of dollars in revenue from television deals, sponsorships, and merchandise sales. This allows the league to offer large contracts to its players, making it one of the most lucrative sports leagues in the world.
Another reason for the high player salaries in the NBA is the league's salary cap structure. The NBA has a soft salary cap, which means that teams can exceed the cap to sign certain players if they use certain exceptions, such as the "Bird exception" named after Larry Bird. This allows teams to pay top players even more than the salary cap would otherwise allow.
The NBA is also home to some of the most iconic and marketable athletes in the world such as Michael Jordan, Lebron James and Steph Curry, who endorse major brands, and have their own signature shoes, adding to the league's global appeal and the players earning potential.
In conclusion, the NBA is the most highest paid sport in the world, with its players earning an average salary of $7.7 million. This is due to the league's global popularity, revenue generation and salary cap structure, which allows teams to pay top players even more than the salary cap would otherwise allow. The presence of iconic and marketable athletes such as Michael Jordan, Lebron James and Steph Curry, also contribute to the league's appeal, helping to generate even more revenue for the league and its players.