Roger Federer celebrated his 42nd birthday on Tuesday. A winner of 20 Grand Slam titles, Federer is officially retired but that hasn’t stopped him from making moves off of the court.
In fact, Federer has aced his early deals as a business, turning the end of his sponsorship with Nike into endorsement deals worth over $600 million. Shortly after his contract with Nike ended, Federer served up two surprising sponsorships with Uniqlo and On Running, both worth at least $300 million.
As of August 2023, On Holdings had approximately 283,522,941 shares outstanding.
Given his three percent stake, Federer owns about 8,505,688 shares in the company. The stock closed on Tuesday valued at $35.70, meaning Federer’s investment in On shoes is now worth over $303 million.
How Did Federer Become Affiliated With On Running?
Ironically, Federer’s introduction to On shoes came from his wife wearing the brand.
Suddenly, he was spotting the shoes all over the streets of Zürich and finally decided to give them a try. Minimalistic and lightweight, the shoes delivered the type of comfort that the Grand Slam champion was looking for.
Then, he set out to meet the founders of the company, which soon turned into a close friendship.
“I am a big believer in working with close friends,” Federer told Forbes, “I think it works very well.”
“We just had a get-together,” Federer continued, “this was way before anything was on the horizon to do anything. I still just wanted to meet the guys, to hear the Swiss success story. I’m very intrigued with Swiss guys making it global. In Switzerland, at some point you need to go global and that’s why I love supporting and hearing the Swiss story.”
Together, Federer and the company developed The Roger line, which features both on-court and off-court shoes.
How Federer Made Over $600 Million From Two Separate Deals
In 2019, Roger Federer ended his decade-long partnership with Nike, opening the door for the tennis legend to blaze a new trail both on and off the court.
The two sides couldn’t agree to a deal, so Federer accepted a 10-year deal with Uniqlo for a total of $300 million. Shortly after that, Federer signed with Swiss-engineered running shoe On and made another bet on himself, opting to take equity in the company rather than a standard deal.
Even though the brand did not have a tennis shoe, Federer worked with the owners and engineers, weaving cloud technology into his own tennis line.
Federer began endorsing the company and instead of an annual fee, he was given a percentage of the billion company. With a three percent stake in the brand, the value of Federer’s investment has eclipsed 300 million.
Though Federer rose to incredible heights while on Nike’s roster, the swoosh was only paying him around $10 million per year. Thanks to his latest deals with Uniqlo and On, Federer is set to bring in over $600 million.
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