LeBron James Replaces Tiger Woods As Most Valuable Sports Brand

NBA superstar LeBron James replaced former world no. 1 golfer Tiger Woods as most valuable sports brand, according to Forbes. Forbes Magazine recently released a list of the most valuable brands in sports, which revealed a new man holding the top spot. After being the most valuable sports brand since 2007, Tiger Woods fell to LeBron James by $1 million.

Sports brand value doesn't indicate how much the athlete is paid playing but how much the athlete earns from endorsements. Both James and Woods have strong deals with Nike, which make up majority of their brand money, but Woods recently lost a major sponsor. The professional golfer will no longer be working with Electronic Arts (EA) after the video game company had made 14 versions of Tiger Woods PGA Tour. The lost sponsorship deal with EA took Tiger from $46 million annually to $36 million.

Last year, the Cavaliers star earned $27 million off the court but his earnings boosted up to $37 million thanks to a number of huge sponsors like Coca-Cola, Nike, Upper Deck and McDonald's. LeBron James is nine years younger than Tiger Woods and it is expected that his money off the court will keep on growing.

At the no. 3 spot on the list is the tennis superstar and world no. 3 Roger Federer, followed by golfer Phil Mickelson and Indian cricket player Mahendra Singh Dhoni.

Meanwhile, the 38-year-old professional golfer is opening a restaurant in Jupiter's Harbourside Place, which is named the Woods Jupiter: Sports and Dining Club. The restaurant will be part of a development that will make a downtown marketplace for the South Florida community.

The Harbourside Place will feature the 4-Star Wyndham Grand Jupiter hotel, dining options marina, amphitheatre and retail space. It will open on October 15 followed by a series of grand opening in December, while Tiger Woods' restaurant is anticipated to open early next year.