Exploring 4 of the Grandest Prize Pools in Contemporary Sports

The world of sports is one of passion, suspense, thrill, and, while almost always overlooked, money. Talking about money made from and by sports, the prizes given to participating teams and winners account for a significant part of the market share. The prizes from most globally acknowledged sports are mind-blowing, thanks to fans’ loyalty and strong sponsorships.

Recently, some sports have stood out in terms of their pooled prizes. These competitions offer heavy payouts to competitors for their efforts, and while these are well-deserved, we can’t help but state they are also huge.

See the four biggest grandest prize pools in contemporary sports history.

Australian Open: The Record High

The introduction of the United Cup event as an addition to the original Australian Open saw the 2023 competition leapfrog other professional Tennis events in prizes. This was both surprising and not, because this is the tournament that hosted so many unbelievable games by tennis superstars, some of them can be found in this article about 10 Legendary Australian Open Champions.  Without a doubt, this event saw the best players worldwide compete for over $100 million in prizes, a record high in competitive tennis history.

According to Craig Tiley, Australian Open tournament Director, the record-setting prize was inspired by the drive to reward competitors more handsomely. He also hoped the move would establish a new trend in the tennis events to make it more attractive.

While the United Cup Event contributed over $30 million to the tournament, the Australian Open also established an individual record. The increase maintained an upward trend that has become more significant over time.

Australian Open massive $100 million plus prize makes it the most lucrative tennis competition currently, leaving similar tournaments in the dust. The Wimbledon Open played between June and July this year, only enjoyed a $56,798,010 prize pool. Similarly, Roland Garros’ prize pool prize experienced a 12.3%, managing an impressive $54 million pool prize. The US Open currently takes 4th place with a prize pool of just over $51 million, despite an 8% increase from 2022.

Formula 1 2023 Calendar Year Prize – $2.28 Billion

Formula 1 is where the money flows for sports personalities who like to hit it big personally. However, in 2023, the stakes got higher, with a whopping $2.2 billion paid out to constructors and drivers. Like most years, the prizes were not paid per Grand Prix. Instead, all 22 Grand Prix are to be completed, and the overall winner gets the lion’s share of the $2.2 billion.

Comparing 2022 and 2023 prize pools, the competition enjoyed a noticeable increase, which has been the case for years. In 2017 and 2018, the pooled prizes were $919 million and $913 million, respectively. In 2019, the competition prizes crossed the $1 billion mark and inched close to $2 billion in 2022.

Moreover, this year also brought good news for bottom teams. According to a new agreement reached by participating teams and the FIA, the calendar’s best-performing team will get 14% of the $2.2 billion. On the other hand, the lowest team gets 6% of the total prize. This deal is expected to remain the same until January 2025.

The F1 2023 pooled prize is one of the highest in modern sports history, and it may just be the beginning of F1 dominance in global space.

UEFA Champions League 2022/2023 – $2.032 Billion

The Champions League is a lucrative business, and the 2022/2023 competition was no different, with $2.03 Billion dished out in prizes. While Manchester City triumphed at the peak stage, every participating team left the competition with huge sums. The massive pooled prize for 2023 is the biggest yet in UCL’s history. However, it is only a little higher than the massive $1.95 billion pool for 2022.

It is not just the UCL that enjoyed a massive improvement in pooled prizes, as the same was recorded across other UEFA competitions in 2023. The UEFA Europa League and the newly introduced UEFA Conference League also got enviable packages, delivering grand prizes of $465m and $235m, respectively.

The UCL currently holds the title for the most rewarding football tournament globally, which may likely not change soon. As an apex club football tournament attracting global elite teams, its pooled prizes in the future are expected to grow upwards.

UEFA Europa League 2022/2023: 465 Million

Playing the role of second best to the UCL, the UEL is one of the most lucrative sports events yearly. A tournament hosting quality teams across Europe, including several elites, this competition pool prize grows consistently, reaching $465 million this year. While this amount is far lower than the offering of the bigger UCL, it is among the highest in history and a massive improvement.

The Europa League pooled prize is currently bigger than the 2022 completed World Cup, worth $440 million. It is also bigger than the UEFA Conference League, with a sum prize of $235 million. It is almost guaranteed that the Europa League will maintain an elite position regarding pooled prizes as it is one of the most globally watched competitions.

Conclusion

Ultimately, sport is profitable and will remain so, especially for elite teams. This guide also revealed that the biggest grand prizes were from competitions with strong global appeal, confirming fans’ importance. While F1 took the top spot, Football delivered more in numbers, while the Australian Open proudly represented Tennis. Expectedly, these numbers will change sooner and later as sponsorships and global appeal change.