Endorsements And The Tennis World
Tennis players rely on endorsements to make a living. Sponsorships 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. These deals can last anywhere from a few months to a few years, and can be worth millions of dollars. ..
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. 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.
Uniqlo and On
In 2018, Federer 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.
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 and endorsements are not enough to make it in the tennis circuit, so most players turn to sponsorships. Roger Federer has a lot of Swiss sponsors, even though many people say he is no longer at his best. However, in the business world there are only two rules: you have to provide endorsements to those who are marketable, and you have to follow rule number one. ..
An athlete’s image and name can be used for brand promotion through a contract. ..
Roger Federer has won six Grand Slam titles.
