Tiger Woods and Phil Mickelson might be struggling on the course, but business is still booming off the course.
Forbes released its annual "Fab 40" list of the world’s most valuable sports brands this week, and the aging PGA Tour stars ranked No. 1 and 2 among individual athletes.
Woods topped the list with a value of $30 million, having added endorsement deals with MusclePharm and Hero MotoCorp in 2014, while Mickelson came in right behind him at $28 million thanks to his new multi-year deal with longtime sponsor Callaway.
NBA superstar LeBron James and tennis legend Roger Federer tied for third at $27 million.
The news wasn’t all good for Woods and Mickelson. Forbes' athlete brand values reflect the amount by which each athlete’s endorsement income "exceeds the average endorsement income earned by the top 10 earning athletes in the same sport during the past year," so the report notes that both Woods and Mickelson saw significant declines in their year-over-year value — $6 million and $1 million respectively — thanks to an increase in endorsement income for younger stars like Rory McIlroy and Jordan Spieth.
McIlroy made his "Fab 40" debut this year at No. 9 with $12 million.
Neither Woods nor Mickelson has won on Tour since 2013. While Mickelson played well at the Presidents Cup in South Korea earlier this month, Woods recently underwent a second back surgery that is expected to keep him out of competition until at least early 2016.