Roger Federer, the legendary Swiss tennis player, has become a billionaire in recent years, thanks in part to a decision made by Nike back in 2018. In that year, Federer was negotiating a new contract with Nike, his longtime sponsor, and supplier of his tennis attire. However, Nike refused to meet Federer’s asking price of $20 million per year, and the two parties ultimately decided to part ways. That decision turned out to be a major turning point in Federer’s financial fortunes.
5) So, without a shoe deal in place, Roger Federer continued to wear Nike’s without being paid for it.
— Joe Pompliano (@JoePompliano) September 29, 2021
But after discovering footwear brand On Running while training, Federer made an even bigger bet.
He signed an equity deal and became a global ambassador for the Swiss brand. pic.twitter.com/rLQ6LDlcEy
Federer’s departure from Nike paved the way for a new deal with Japanese apparel company Uniqlo. In July 2018, Uniqlo announced that it had signed Federer to a ten-year, $300 million deal. That contract includes a base salary of $30 million per year, as well as additional bonuses based on Federer’s performance and other factors. The deal also consists of a clause that allows Federer to continue wearing his own custom Nike shoes on the court.
How Uniqlo skyrocketed Federer’s fortunes
The Uniqlo deal was a major coup for Federer. It made him the highest-paid athlete in the world at the time. It also represented a significant increase in his annual earnings. Moreover, he had previously earned around $12 million per year from Nike. In addition to the Uniqlo deal, Federer earns significant income from endorsements and sponsorships with companies like Rolex, Mercedes-Benz, and Credit Suisse.
Federer’s status as a billionaire is also due to his savvy business acumen. He has invested in a number of successful companies, including the Swiss sneaker brand On. Post his investment, On has seen some really significant growth. Federer is also involved in various philanthropic endeavors, including his own charitable foundation, which supports education and sports initiatives for children in Africa and Switzerland.
UNIQLO is honored to welcome Roger Federer as our new Global Brand Ambassador.
— UNIQLO (@UniqloUSA) July 2, 2018
“Mr. Federer is one of the greatest champions in history. We share a goal of making positive change in the world.” —Tadashi Yanai, UNIQLO founder, chairman and CEO https://t.co/lE8EJVIPWE pic.twitter.com/c3UuWXQq2n
In addition to his financial success, Federer remains focused on his post-tennis career. He has been spending quality time with his family in Switzerland. At the age of 41, Federer has said he is still deciding what a perfect retirement plan would be. He foresees still being associated with the sport for as long as possible. Laver Cup, one of Federer’s ventures is a testimony to the same.
Roger Federer’s decision to part ways with Nike in 2018 was a pivotal moment in his career. It paved the way for a lucrative deal with Uniqlo and helped to make him a billionaire. Federer’s success is a testament to his talent, hard work, and business acumen. Hence, he remains one of the most respected and beloved athletes in the world.
