$1.06 billion. That’s how much the world’s top fifty athletes made from endorsements and off-the-field endeavors from 1st May 2021 to 1st 2022. So let us see about the endorsements and the tennis world.
Endorsements And The Tennis World
In the World of Tennis, endorsements are like a doubles game. Both parties play to win. Sponsorships like these are some of the most profitable prospects for tennis players, with all the leading figures of the sport making more off the field than on it.
Roger Federer – The Player himself
Born in Basel, Switzerland, on 8th August 1981, Roger Federer is one of the best tennis players to have ever graced the sport. Since turning pro in 1998, the Swiss maestro has won multiple accolades, such as twenty Grand Slam singles titles ( six Australian Opens, five US opens and eight Wimbledon titles ) and has been ranked world No. 1 for a total of 310 weeks during the Open Era, a record broken by Djokovic in March of 2021 and previously held by Sampras. Roger has even more records to his name, such as being the oldest Wimbledon champion at 36 years old, the first player to win ten titles on two different surfaces and the most consecutive tennis finals victories.
Credit Suisse Group (ADS) and Rolex:
The global investment bank founded in the Swiss’ home country of Switzerland signed up Federer in a 10-year long deal in 2009, with reports suggesting his earnings being somewhere in the ballpark of $2 million per year. Additionally, the bank also announced significant donations to the Roger Federer Foundation, the player’s personal charity which helps affected youth in Africa with regards to Education. He serves as their global ambassador. The Swiss powerhouse first teamed up with the watch brand in 2006, a 10 year deal which would see him netting $15 million in total, coming in at $1.5 a year. His most famous appearance with a Rolex timepiece remains on the court where Federer was seen donning an Oyster perpetual Datejust II after winning Wimbledon in 2009, breaking Sampras’ record for most Grand Slam victories. After renewing his contract with the British-founded enterprise, Federer was found to pocket $9 million annually. His contract ends in 2027.
Uniqlo and On
For Decades, Federer was the face of Nike’s tennis division, where he was part of an impressive roster including Maria Sharapova, Rafael Nadal and Serena Williams. In 2018, the tennis wizard ditched Nike for Japanese apparel outfit Uniqlo, with whom he signed a 10-year $300 million deal earning him $30 million every year. The deal came with interesting stipulations such as having no retirement clause, meaning Federer would continue to earn $30 million even if he chose to put down the tennis racket early. His contract ends in 2028. 2 years after ending his contract with Nike, Federer signed an equity deal with Swiss footwear brand On Running, for which he also became a global ambassador. Later, it was revealed he owned a 3% stake in the company. In 2020, after the company went public, a valuation was put at $10 billion, meaning the Swiss’ investment was now worth $300 million.
Lindt, Moet, Chandon and Mercedes-Benz:
In 2009, Federer landed a sweet sponsorship with Zurich-based chocolate Maison Lindt & Sprüngli. The deal also saw the Swiss legend become a global ambassador on a long term basis. In 2017, he signed a multi-year extension which would see him take home more than $20 million as part of the hefty payday.LVMH-owned champagne brand sealed a 5-year partnership worth $30 million, which saw the tennis star replace veteran actress Scarlett Johansson as the face of the french vintners. The German automobile manufacturer first struck a deal with the Swiss maestro in 2008, featuring in a handful of commercials and marketing. He starred as an ambassador for Mercedes-Benz China before expanding the partnership as part of a global deal in 2011. Moreover, in 2018, Federer signed a new agreement as part of the multi-year extension of his contract with the Stuttgart-based car giant, earning roughly $5 million per annum. As a bonus, the Swiss also receives a new car every 6 months.
Conclusion:
It seems that prize money alone doesn’t cut it in the tennis circuit so most turn to endorsements. Roger Federer seems to have an affinity for those close to home, which can be seen from the amount of Swiss brands sponsoring him, even at a time when most say he is beyond his prime. However, in the ever-so-grueling world of business, there are only two rules when it comes to endorsements. The first rule being you provide endorsements to those who are marketable, and the second is to simply follow rule number one.
FAQS
1.What are endorsements?
It is a contract that lets an athlete’s image and name be used for brand promotion.
2.How many Grand Slam titles does Roger Federer have?
20.
