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Woods drops to third highest-paid athlete in the world

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SAN FRANCISCO - OCTOBER 11: Ryo Ishikawa of the International Team watches the tee shot of Kenny Perry on the third hole during the Day Four Singles Matches of The Presidents Cup at Harding Park Golf Course on October 11, 2009 in San Francisco, California. (Photo by Harry How/Getty Images)

Tiger Woods is no longer sports’ highest-grossing earner, according to Forbes magazine.

In its annual list of the top 100 highest-paid athletes, Woods ranked third, behind boxers Floyd Mayweather and Manny Pacquiao.

Woods had held the top spot since 2001.

Forbes reports that Mayweather earned $85 million off his two fights last year. Pacquiao was second on the list with $62 million.

Woods reportedly made $59.4 million, a drop of $16 million from the previous year and half of what he earned during his peak in 2009, mostly due to endorsement deals.

Phil Mickelson was seventh on the list, with $47.8 million; Luke Donald 48th, with $22.2 million. Rory McIlroy and Ernie Els tied for 91st, with $17.4 million.