Globally, in 2012, Mr Woods was followed by German Formula One driver Michael Schumacher and basketball legend Michael Jordan.

BBC: David Beckham tops UK and Irish sport rich list

When we looked at the highest-paid athletes in the world three years ago, Tiger Woods narrowly topped the list ahead of German Formula One legend Michael Schumacher.

FORBES: The World's Top-Earning Athletes

Still, the chances of a listing in Singapore or New York may hinge on the outcome of a German investigation of Formula One Chief Executive Bernie Ecclestone, who built Formula One into a lucrative global business beginning in the late 1970s.

WSJ: CVC May Revive Formula One Singapore IPO

Yet economists remain uncertain whether either man is offering the right formula for turning the German economy round and whether, in the final analysis, their economic recipes are that different from each other.

ECONOMIST: The neglected economy | The

"The only thing that happened in Formula One is the two German and Japanese teams put out rather ill-considered press releases, " he said.

BBC: 'Vindicated' Mosley returns to F1

Like Honda, which pulled out of Formula 1 before the season had even started, the German carmaker has seen its sales and profits tumble as a result of the global economic downturn.

BBC: What does BMW's exit mean for F1?