Woods, Mickelson top list of most valuable brands

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Despite a lack of on-course results, a new study shows that Tiger Woods and Phil Mickelson aren't just the biggest names in golf - they're the most valuable individual brands in sports.

Forbes recently released its "Fab 40" list, ranking the most valuable sports brands in terms of athletes, teams, businesses and events. Woods and Mickelson rank Nos. 1 and 2 in the individual category, with values of $30 million and $28 million, respectively. 

Those figures don't reflect their actual value, but instead what their names alone are worth. They include the sum of their endorsement income minus the average endorsement income of the top 10 athletes in the same sport.

While they occupy the top spots, both Woods and Mickelson saw a dip in their relative values this year. In 2014, Woods' value was listed at $36 million, while Mickelson's was $29 million. Despite the drops, they ranked just ahead of NBA superstar LeBron James and tennis legend Roger Federer, who tied for third at $27 million.

Woods struggled through the worst season of his professional career this year, failing to register a top-10 finish until the Wyndham Championship in August. He has since undergone a second back surgery and will be out until early 2016. Mickelson tied for second at the Masters and starred at the Presidents Cup, but he has not won since the 2013 Open Championship. 

The only other golfer among the top 10 was Rory McIlroy, who ranked ninth with a value of $12 million.

Nike ($26 billion) was listed as the most valuable brand in sports, while the New York Yankees ($661 million) and Super Bowl ($580 million) were deemed the most valuable team and sports event, respectively.