The magazine, in its annual review of salary and earnings estimates of Australian sports personalities, said most of Norman's earnings came from sales of his clothing range and lucrative endorsement deals, and not on the golf course, where it said he played only four tournaments.
In second place is Liverpool-based soccer midfielder Harry Kewell, whose earnings for the year were estimated by BRW to be $9.4 million, followed closely by tennis player Lleyton Hewitt, World Series of Poker winner Joseph Hachem and golfer Adam Scott.
There are 15 golfers on the top-50 list, making it Australia's most lucrative sport. Tennis player Alicia Molik, who is off the pro circuit with an ear ailment, is the only woman on the list, coming in at 44th with earnings of $905,000.
Andrew Bogut, the first choice in this year's NBA basketball draft, is No. 7 with earnings of $5.4 million, from the Milwaukee Bucks and endorsements.
Six cricketers are on the list, including spin bowler Shane Warne (27) and captain Ricky Ponting (28).
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