LeBron James has topped Tiger Woods, the winner for the past seven years since 2007, to become the world's most valuable athlete in 2014 according to the recently released "Forbes Fab 40."

Forbes magazine calculated athletes’ brand values based on their endorsement income. The magazine said James pulled in US$53 million off the court during the past year, placing him at the top of the list with an estimated brand value of US$37 million.

"The Forbes Fab 40: The Most Valuable Sports Brands of 2014" also included three other top 10 lists of the brand values of sports businesses, events and teams.

Nike, one of the most well-known sports brands in the world, which employs James as one of its endorsers, topped the list of most valuable sports business brands with an estimated US$19 billion in brand value this year.

The New York Yankees were listed as the most valuable team brand in sports with an estimated US$521 million brand value.

Let's take a look at the top 10 most valuable athletes in 2014:

  Rafael Nadal

Brand Value 2014:US$10 million

Brand Value 2013:not listed