Move over Tiger Woods, there is a new world's most valuable athlete!

LeBron James with Tiger Woods

LeBron James has surpassed Tiger Woods in terms of value, Forbes magazine has recently labeled 'King James' as the most valuable athlete in the world.

James is No.1

Forbes magazine have just completed their publication entitled The Forbes Fab 40, it consisted the The Most Valuable Sports Brands of 2014 and was released to the public this Tuesday.

In Forbes Fab 40, the company listed the top 10 sports brands by business, events, teams and athletes, LeBron James was the individual to sit atop the most valuable athletes in the world list at present time.

The magazine estimated that King James raked in around $53 million through off-the-court endorsements this past year and his brand is also believed to be worth around $37 million.

Fall of Woods

Tiger Woods has dominated the most valuable athlete conversation as of late, the golfer has been ranked first overall since 2007.

The reason for his subsequent fall to the second place position is due to the end of his long-standing relationship with EA Sports over the video game series baring his name.

The company parted ways with Woods due to his injury plagued year and the golfer has had to hand over the crown to James for top sports athlete in value terms.

LeBron looking at Mega Deal

The 29-year-old LeBron James has recently signed with his hometown and former team the Cleveland Cavaliers, his two year deal worth $42.1 million is a max-contract short term offer.

The NBA's collective bargaining agreement is up for renewal in 2017, the same time that LeBron will once again become a free agent, despite showing no intention of leaving the Cavaliers once more, it will allow the world's already most valuable athlete to bargain his way to an even more extravagant contract.

The league have just signed a new $24 billion TV and media deal that should result in a jump in the league's salary cap, James recently commented on the work done by the NBA: "Give a lot credit to David Stern, He built our league, and he built our brand. For us to be able to make a television deal like that for the type of money, a lot of it is his vision."

In other news from the Forbes rich list, Nike which are currently employ James have been listed as the Top Sports business by Forbes as they are estimated to be worth $19 billion, which is a $1.7 billion increase from last year.

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