After a partnership that spanned 24 years, Roger Federer has left Nike. The 36-year old tennis pro has signed a new endorsement deal with Japanese company Uniqlo. Federer, for his first Wimbledon match this morning, stepped onto the court wearing a Uniqlo shirt, jacket, headband and socks. Federer, oddly enough, was still wearing Nike sneakers.
It’s reported by ESPN’s Darren Rovell that the 10-year deal is worth $300 million. Rovell also reports that a clause in the contract states that Federer will get paid the full freight whether he plays the life of the deal or not.
In context, Federer’s new partnership is a whale of an endorsement. While capturing 20 singles Grand Slam titles in his Hall of Fame career that now spans two decades, Federer made $116 million on the court. This deal, over the course of 10 years, easily doubles professional earnings over that of 20 years.
Even greater, the Uniqlo deal allows Federer’s team to sell patches on his short. Something Nike did not allow him to do so. Thus, Federer stands to make even more than the reported $300 million.
Nike’s deal with Federer came to an end in March 2018. They were given an opportunity to match Uniqlo’s offer sheet but declined. Rovell also states that tensions had grown in Federer’s agent, Tony Godstick, and Nike. Godstick was seeking greater financial return from the Nike endorsement alongside promise of a longstanding claim from Nike to expand Federer’s “RF” collection.
Uniqlo Founder and Chariman, Tadashi Yanai, spoke in a brand statement about the signing today. “Mr. Federer is one of the greatest champions in history; my respect for him goes beyond sport. Our partnership will be about innovation on and off court. We share a goal of making positive change in the world, and I hope together we can bring the highest quality of life to the greatest number of people. UNIQLO will help Mr. Federer continue taking tennis to new places, while exploring innovations in a number of areas including technology and design with him.”
