#TrendingNow: How Tennis Legend Roger Federer Joined the Billion Dollar Club
Roger Federer, the 41-year-old Swiss tennis legend has decided to hang up his boots right Laver Cup that’s supposed to take place next in London, marking an end to one of the greatest careers in sports history.
While the grand slam master is considered one of the best ever to grace the tennis court, little is known about his masterful investment strategy that saw the Swiss legend exiting the Nike deal only to join the billion-dollar club.
This is how everything transpired.
Roger Federer Cuts Off Nike Deal
The tennis superstar left everyone stunned when he walked out of the $10 million annual sponsorship deal with Nike. But he had grander plans in his mind.
So, what did Federer do? He signed a massive, unique $300 million deal with Uniqlo – a Japanese fast fashion retail brand with a global presence.
Unique because not only the endorsement deal was 30 times more than the Nike deal, it did not have any retirement clause in the agreement. This meant that Federer would still earn quite a hefty amount even after retiring from the sport.
Also Read: 11 Rakesh Jhunjhunwala Investment Tips You Should Know
Roger Federer’s ‘On’ Shoe Investment
Back in 2019, Federer inked a partnership deal with high-end running sneaker brand – On, to build a unique brand of shoes – the Roger Pro tennis shoe. The 20-time grand slam winner invested an undisclosed sum in the shoe brand against a 3% stake in the company. Apparently, Federer spent 20 days in the company lab overseeing the development of pro tennis shoes.
Now here’s where things skyrocketed. In September 2021, On, the shoe brand went public on New York Stock Exchange (NYSE) with a valuation of over a whopping $11 billion.
The On shoe investment proved to be a massive hit as Federer’s net worth grew by leaps and bounds as he entered the $1 billion club that includes sportspersons such as Lionel Messi, Floyd Mayweather, LeBron James and Tiger Woods, among others.
Final Word
Roger Federer’s mammoth body of work in the world of sports would live on forever. However, it’s worth noting that he is more than just a great tennis player with near-perfect technique. His sharp mind that fueled his unique investments and endorsements is nothing short of awe-inspiring.
Do you have any such unique stories of sportstars to share? Write us in the comment section and don’t forget to follow #TrendingNow – our daily financial tidbits.
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